{"id":17904,"date":"2023-02-16T13:50:12","date_gmt":"2023-02-16T13:50:12","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/02\/16\/ethereum-rallied-in-2023-and-the-technical-analysis-picture-remains-bullish\/"},"modified":"2023-02-16T13:50:12","modified_gmt":"2023-02-16T13:50:12","slug":"ethereum-rallied-in-2023-and-the-technical-analysis-picture-remains-bullish","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/02\/16\/ethereum-rallied-in-2023-and-the-technical-analysis-picture-remains-bullish\/","title":{"rendered":"Ethereum rallied in 2023, and the technical analysis picture remains bullish"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674495037003-cd10f06e-3a8d-4cea-bdf0-3d256a361e98-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674495037003-cd10f06e-3a8d-4cea-bdf0-3d256a361e98-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674495037003-cd10f06e-3a8d-4cea-bdf0-3d256a361e98-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674495037003-cd10f06e-3a8d-4cea-bdf0-3d256a361e98-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/1970\/01\/1674495037003-cd10f06e-3a8d-4cea-bdf0-3d256a361e98.jpg\" alt=\"\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>$1000 acted as strong help for Ethereum<\/li>\n<li>A triangle as a reversal sample reveals a bullish medium-term perspective<\/li>\n<li>The rally on the small timeframes may proceed<\/li>\n<\/ul>\n<p>The cryptocurrency market rebounded in 2023 after a bearish market in 2022. Bitcoin led the decline, and different cryptocurrencies, reminiscent of Ethereum, adopted.\u00a0<\/p>\n<p>The US greenback\u2019s power is a part of the causes buyers fled the cryptocurrency market. But different components additionally contributed to the so-called \u201ccrypto winter\u201d from final yr. For instance, the FTX scandal left many buyers with out funds.\u00a0<\/p>\n<p>But towards all odds, the crypto market rebounded in 2023. Bitcoin is up near 50%, and Ethereum adopted.\u00a0<\/p>\n<p>So here&#8217;s a technical analysis primarily based on the lengthy, medium, and short-term views for the ETH\/USD. Where will Ethereum go subsequent?<\/p>\n<h2>ETH\/USD long-term view<\/h2>\n<p>The one factor that strikes the eye on the month-to-month chart (in addition to the big drop in 2022) is the robust help provided by the $1000 degree. Often, the spherical numbers supply help or resistance, and it seems to be the case right here.\u00a0<\/p>\n<p>The bigger the timeframe, the stronger the help or resistance is. This being the month-to-month chart, we shouldn&#8217;t be shocked that Ethereum bounced from help.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/01\/16\/1676552248657-204e20a4-7021-4db8-a2ea-038f99461530.jpg\" class=\"fr-fic fr-dib\" width=\"762\" height=\"476\"\/><\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" rel=\"noopener noreferrer\" target=\"_blank\">ETHUSD chart by TradingView<\/a><\/p>\n<h2>The medium-term perspective<\/h2>\n<p>Coming all the way down to the day by day chart, the bullish bias remains. Ethereum consolidated above the help degree talked about earlier and fashioned a contracting triangle.\u00a0<\/p>\n<p>This triangle acted as a reversal sample, as the worth broke above the higher trendline. Therefore, the finish of the triangle ought to act as an invalidation degree for any lengthy commerce.\u00a0<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/01\/16\/1676552248681-639b80e1-7a71-46ef-80e1-4e268c6991d7.jpg\" class=\"fr-fic fr-dib\" width=\"762\" height=\"477\"\/><\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" rel=\"noopener noreferrer\" target=\"_blank\">ETHUSD chart by TradingView<\/a><\/p>\n<h2>The short-term view<\/h2>\n<p>From a short-term perspective, the market seems to kind a pennant. This is a short-term consolidation sample normally adopted by one other rally.\u00a0<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/01\/16\/1676552248645-c74aa577-95b0-43b6-8cea-37bfd9546d34.jpg\" class=\"fr-fic fr-dib\" width=\"762\" height=\"478\"\/><\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" rel=\"noopener noreferrer\" target=\"_blank\">ETHUSD chart by TradingView<\/a><\/p>\n<p>However, till the worth breaks larger, it&#8217;s tough to anticipate the market\u2019s course on such a small timeframe.\u00a0<\/p>\n<p>Nevertheless, Ethereum fashioned an inverse head and shoulder sample round $1,500. The lowest level on the sample ought to act as a warning sign for bulls, ought to the worth attain it.\u00a0<\/p>\n<p>All in all, the constructive momentum in the cryptocurrency market continues. As a end result, Ethereum\u2019s technical analysis has a bullish bias.\u00a0<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/eth-usd-technical-analysis-and-why-the-market-may-still-rally\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] $1000 acted as strong help for Ethereum A triangle as a reversal sample reveals a bullish medium-term perspective The rally on the small timeframes may proceed The cryptocurrency market rebounded in 2023 after a bearish market in 2022. Bitcoin led the decline, and different cryptocurrencies, reminiscent of Ethereum, adopted.\u00a0 The US greenback\u2019s power is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[4],"tags":[2551,539,108,2773,1118,183,977],"class_list":["post-17904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-analysis","tag-bullish","tag-ethereum","tag-picture","tag-rallied","tag-remains","tag-technical","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/17904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=17904"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/17904\/revisions"}],"predecessor-version":[{"id":17905,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/17904\/revisions\/17905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/16650"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=17904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=17904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/t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