Daily Trade News

Ethereum ‘has to bounce’ as ETH bulls pin $5K rally hopes on critical



© Reuters

Ethereum’s native token, Ether (ETH), could see yet another strong rebound in the sessions ahead as its price falls into a trading zone with a recent history of attracting buyers.

The rising trendline has been triggering ETH’s price rebounds since the beginning of October and comes as a part of a broader ascending channel range.

4-hour price chart featuring the ascending channel setup. Source: TradingView
ETH/USD 8-hour price chart featuring “swing long” setup. Source: Forexn1, TradingView
ETH/USD 4-hour price chart featuring the ascending channel’s bearish breakout target. Source: Pentoshi, TradingView
Ethereum fee burn. Source: Ultrasound.money