{"id":59413,"date":"2020-01-12T09:39:13","date_gmt":"2020-01-12T07:39:13","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=59413"},"modified":"2020-01-12T09:39:13","modified_gmt":"2020-01-12T07:39:13","slug":"analyst-ethereum-price-burst-26-percent-higher","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/analyst-ethereum-price-burst-26-percent-higher\/","title":{"rendered":"Analyst Expects Ethereum Price to Burst 26.5% Higher: Here’s Why"},"content":{"rendered":"

Take one look at Bitcoin\u2019s chart and you would assume that Ethereum, XRP<\/a>, and all the rest have had a great 2019 too, but you would be sorely mistaken in saying that.\u00a0 The second-largest cryptocurrency saw a negative performance last year, which came in stark contrast to Bitcoin\u2019s 95% year-to-date gains.<\/p>\n

Despite this, analysts are starting to get bullish on ETH once again, citing a number of technical factors.<\/p>\n

Ethereum Ready to Break Higher, Prominent Analyst Suggests<\/strong><\/h2>\n

Dave the Wave<\/a>, a prominent cryptocurrency trader, recently noted<\/a> that the chart of Ethereum against the U.S. dollar is forming a possible ascending triangle “forming here for a breakout,” drawing attention to the below chart to illustrate his point, which shows ETH’s recent rally in correlation with Bitcoin.\u00a0<\/a><\/p>\n

With the triangle’s height being 26%, a breakout above the triangle baseline, which sits at $150 or so, will likely mean that the cryptocurrency will surge towards $200, rallying by 26%. This move would put ETH above a key falling wedge structure, which would bode well for bulls.<\/p>\n

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Freebie from my alts page [fee based].<\/p>\n

Possible ascending triangle forming here for a breakout. Buy target 136. pic.twitter.com\/840flPDO8Q<\/a><\/p>\n

— dave the wave\ud83c\udf0a (@davthewave) January 11, 2020<\/a><\/p><\/blockquote>\n