{"id":459600,"date":"2022-06-08T16:28:59","date_gmt":"2022-06-08T13:28:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\/"},"modified":"2022-06-08T16:28:59","modified_gmt":"2022-06-08T13:28:59","slug":"ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\/","title":{"rendered":"# Ethereum \u2018double Doji\u2019 pattern hints at a 50% ETH price rally by September"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a347f20451fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a347f20451fd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\/#%E2%80%9D_Ethereum_%E2%80%98double_Doji_pattern_hints_at_a_50_ETH_price_rally_by_September_%E2%80%9C\" >&#8221; Ethereum \u2018double Doji\u2019 pattern hints at a 50% ETH price rally by September &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\/#Ether_strong_support_confluence_meets_Dojis\" >Ether strong support confluence meets Dojis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\/#A_50_ETH_rally_ahead\" >A 50% ETH rally ahead?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_%E2%80%98double_Doji_pattern_hints_at_a_50_ETH_price_rally_by_September_%E2%80%9C\"><\/span>&#8221; Ethereum \u2018double Doji\u2019 pattern hints at a 50% ETH price rally by September &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Ethereum&#8217;s native token, Ether (ETH), looks poised to undergo a sharp upside retracement in the coming weeks after painting a so-called &#8220;double Doji&#8221; pattern, accompanied by a few bullish technical indicators.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_strong_support_confluence_meets_Dojis\"><\/span>Ether strong support confluence meets Dojis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To recap, a Doji is a candlestick that forms when a financial instrument opens and closes around the same level on a specified timeframe, be it hourly, daily or weekly. From a technical perspective, a Doji represents indecision in the market, meaning a balance of strength between bears and bulls.<\/p>\n<p>So, if a market is trending downwards when a Doji <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears, traditional analysts view it as a sign of slowing selling momentum. As a result, traders may look at a Doji as a sign to existing their short positions or open new long positions in anticipation of a price reversal.<\/p>\n<p>Meanwhile, a double Doji shows a continued state of bias conflict among traders, which could result in the price breaking out in either direction. <\/p>\n<p>With ETH\/USD forming a similar pattern on its weekly chart, the token looks ready to log strong trend-defining moves in the coming sessions.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/e3d9077d-fe80-492a-b974-d75689d47805.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD weekly price chart featuring two Doji formations in a row. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Some of Ether&#8217;s technicals favor a decisive rebound move, beginning with its 200-week exponential moving average (200-day EMA; the blue wave in the chart above) near $1,625, which has served as a strong support level in May 2022.<\/p>\n<p>Next, Ether gets another concrete price floor in the $1,500\u2013$1,700 range, which was instrumental in capping the token&#8217;s bearish attempts between February and July 2021. Coupled with a double Doji, these technical indicators anticipate a price rebound ahead.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_50_ETH_rally_ahead\"><\/span>A 50% ETH rally ahead?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If ETH price rebounds as described above, then the next bullish target is the 0.5 Fib line (near 2,120) of the Fibonacci retracement graph, drawn from the $85-swing low to the $4,300-swing high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/faa0bc19-2e0d-4b3f-8e35-d8fc32253d87.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD weekly price chart featuring Fib support and resistance targets. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>That would mark a 20% upside move. Meanwhile, an extended move above the 0.5 Fib line could have traders eye the 0.382 Fib line near $2,700 as their next upside target, a level coinciding with ETH&#8217;s 50-week EMA (the red wave), by the end of September 2022.<\/p>\n<p>This would be a nearly 50% price rally.<\/p>\n<p><strong><em>Related:\u00a03 reasons why Ethereum price is pinned below $2,000<\/em><\/strong><\/p>\n<p>Conversely, if the double Doji pattern resolves in a breakdown below the support range, it could push Ether toward $1,400. This level coincides with ETH&#8217;s 2018 top and was instrumental as a support in February 2021, as shown below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/e79bbb5d-1414-48f2-aaa3-9f60852b68d5.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A decisive breakdown below $1,400 then opens the door to the 0.786 Fib line near $1,000 as the next downside target.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-double-doji-pattern-hints-at-a-50-eth-price-rally-by-september\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum \u2018double Doji\u2019 pattern hints at a 50% ETH price rally by September &#8220; Ethereum&#8217;s native token, Ether (ETH), looks poised to undergo a sharp upside retracement in the coming weeks after painting a so-called &#8220;double Doji&#8221; pattern, accompanied by a few bullish technical indicators. Ether strong support confluence meets Dojis To recap, a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":459601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvOGZkZDQzMTktY2Y1MC00MGZjLTgwOTktNmZlNTc4Zjk5YTZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[88119,79806,82402,74891,74938,74939,75150,75164,78261,73785],"class_list":["post-459600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin-watch","tag-analysis","tag-ether-price","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-market-update","tag-price-analysis","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=459600"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/459601"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=459600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=459600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=459600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}