Ethereum price prepares for a 30% breakout from a bullish consolidation pattern. On-chain metrics support the bullish thesis as ETH moves closer into price discovery mode. The 50 and 100 twelve-hour EMA will play a vital role in keeping Ether’s uptrend intact. Ethereum price is ready for a significant upswing as the price nears the x-axis of an ascending triangle. A candlestick close above $1,450 would confirm a bullish breakout that may propel ETH towards $1,900, representing a 30% increase. Ethereum price primed for new all-time highs Ethereum price is ready for a breakout after a two-week consolidation period where it mostly traded inside an ascending triangle. ETH’s recent move above the 50 twelve-hour EMA shows that bulls want to push prices towards the triangle’s upper trendline. A subsequent 12-hour candlestick close above the resistance barrier at $1,450 not only confirms a bullish breakout but also could see Ether’s market value rise by more than 30%. ETH/USDT 4-hour chart Adding credence to the bullish scenario is IntoTheBlock’s In/Out of the Money Around Price model. This on-chain metric shows clear sailing for ETH with very little resistance ahead. Only a small cluster of investors have purchased around 100,000 ETH for a market value of $1,385. Although such an insignificant supply wall could momentarily keep rising prices at bay, Ethereum will enter price discovery mode if it manages to slice through it. Ethereum IOMAP Moreover, Ethereum’s supply on exchanges has taken a massive nosedive over the past two weeks, indicating a substantial decrease in sell-pressure. It also suggests that investors are confident that ETH will achieve its upside potential, which adds fuel to the optimistic view. Ethereum Coin Supply on Exchanges chart Although the bullish scenario is plausible, Ethereum price has faced multiple rejections at the $1,450 resistance level. Hence, a failure to breach this hurdle can invalidate the bullish outlook and lead to a steep correction. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Crude Oil Futures: Door open to further upside FX Street 1 year Ethereum price prepares for a 30% breakout from a bullish consolidation pattern. On-chain metrics support the bullish thesis as ETH moves closer into price discovery mode. The 50 and 100 twelve-hour EMA will play a vital role in keeping Ether’s uptrend intact. Ethereum price is ready for a significant upswing as the price nears the x-axis of an ascending triangle. A candlestick close above $1,450 would confirm a bullish breakout that may propel ETH towards $1,900, representing a 30% increase. Ethereum price primed for new all-time highs Ethereum price is ready for a breakout after a two-week consolidation period where it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.