Ethereum has broken out of a intraday technical pattern
|- Ethereum is trading 1.3% higher today and the major cryptocurrencies are mixed.
- The descending wedge formation on the one-hour chart has just been broken.
There has been some buying volume going through Ethereum which has caused the pattern on the one-hour chart to break to the upside.
On Saturday when the market pushed higher Ethereum failed to test the 200.00 level.
Since the market has moved into a corrective consolidation phase between 200.00 and 173.86.
The pattern break on decent volume could indicate a move higher is on the cards.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.