In recent analysis, renowned financial market analyst and trader Peter Brandt emphasized the eye-catching bullish signals on the Ethereum price chart. Brent utilized his expertise in technical analysis to delve into the complexity of chart patterns and reveal the prospects of Ethereum
In recent analysis, renowned financial market analyst and trader Peter Brandt emphasized the eye-catching bullish signals on the Ethereum price chart. Brent utilized his expertise in technical analysis to delve into the complexity of chart patterns and reveal the prospects of Ethereum.
Therefore, the trader pointed out significant developments on the Ethereum price chart, emphasizing the completion of the Little Nine Day Flag and reaffirming the right angle expansion triangle completed earlier on October 23.
This special pattern is called a right angle expansion triangle, representing a bullish reversal, characterized by a horizontal resistance line and a bearish downward trend that forms support.
Another example of the principle of classical charts
The flag shape completed today on the 9th is reconfirmed, and the right angle expansion triangle will be completed on October 23rd. $ETH
When the price of ETH breaks the top trend line, the breakthrough moment arrives, confirming the reversal of bullish sentiment and driving the price of digital currencies. Observers point out that the price of Ethereum has skyrocketed from $1723 to $1800 or even higher, reflecting the strong upward trend.
What should we do now?
Brandt further analyzed the price trend and emphasized the formation of another model after Ethereum broke the $1800 threshold, namely the flag. Although Brandt did not specify whether the flag shape is bullish or bearish, as you can see on the price chart, these are higher lows and higher highs. If you look at what the bearish flag shape looks like, you won't be too bullish.
ETH is currently trading at around the $1837 mark and has recently encountered resistance at around $1850 per token.
All eyes are focused on the Ethereum price chart, and one thing is certain: if the technical analysis model is effective under current assumptions and Brandt has proven this, then it is worth paying attention to.
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