Published On: Tue, Oct 17th, 2017

Ether Price Analysis: Eve and Adam Could Be Turning Back the Bulls

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Since bottoming out around $200, ether has spent several weeks bouncing back and forth inside an ascending channel:Figure 1: ETH-USD, 4-Hour Candles, Ascending ChannelFor the last month and a half, ether’s trend has been contained within the bounds of this ascending channel, where it has continued its bullish rally. However, today (as of the time of this article) it is starting to make moves to aggressively test the lower boundary. Specifically, as ether tests this channel, it is forming a potential reversal pattern called an Eve-and-Adam Double Top. Figure 2: ETH-USD, 1-Hour Candles, Eve-and-Adam Double TopAt the time of this …

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