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

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© Reuters

Ethereum’s native token, Ether (ETHIt could also see a further strong rebound as the stock’s price drops into an area that attracts buyers in recent times.

This rising trendline is triggering ETH’s price reboundsSince the start of October, and is part of an broader ascending range of channels.

A 4-hour price graph with the ascending channel arrangement. Source: TradingView
ETH/USD 8-hour price chart featuring “swing long” setup. TradingView
ETH/USD 4-hour price chart featuring the ascending channel’s bearish breakout target. Source: Pentoshi, TradingView
Source: Ultra. Source: Ultrasound.money