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Ethereum eyes rally against Bitcoin, with ETH price showing hidden bullish divergence

The second-largest cryptocurrency will see over 8% growth against its top rival should the technical outlook play out.

Ethereum’s native token, Ether (ETH), has been declining against its top crypto rival, Bitcoin (BTC), since Sept. 3.

Ether dropped in value against Bitcoin by almost 25% after topping out in September at 0.07955 BTC. As the top altcoin declined, it left behind a trail of lower highs and lower lows, thus forming an ascending channel.

Later, ETH/BTC broke the channel to the upside on Saturday, raising anticipations about a strong extended recovery trend. But a selloff on Sunday and the ongoing session had traders test the channel’s resistance trendline as support.

ETH price charts suggest bullish divergence

The sentiment raised Ether’s possibility to reenter the falling range as shown in the chart below.

ETH/BTC daily price chart featuring bullish divergence. Source: TradingView

At the same time, the formation of higher highs in ETH/BTC’s daily commodity channel index (CCI) showed hidden divergence against the pair’s downtrend. For the uninitiated, CCI is a momentum oscillator that measures an instrument’s variations from its statistical mean to spot potential reversals.

“A hidden divergence is always an indicator for a possible trend reversal,” noted Stefan Krecher, a Germany-based market strategist, adding that ETH/BTC may rebound in the coming sessions also as the pair’s daily relative strength index (RSI) remains “not overbought.”

Krecher anticipated Ether to hit its monthly pivot point around 0.071586 BTC, almost over 8% of the current levels. The upside target also coincided with the 0.618 Fib line (0.071505 BTC) of the Fibonacci retracement graph in the chart above.

On the flip side, reentering the descending channel range risked sending ETH/BTC to its range support trendline near 0.058238 BTC.

Ether price against the dollar

The bullish ETH/BTC price outlook appeared as Ether held $4,000 as solid support while rebounding over 2.6% Monday. Meanwhile, Bitcoin’s price retraced almost 3.5% after setting up a similarly strong price floor near $60,000.

As a result, ETH/BTC merely looked weaker because Bitcoin rallied strongly against the United States dollar than Ether. Nevertheless, the Ethereum token’s prospects looked bullish, as earlier reported by Cointelegraph, with the aid of an ascending triangle setup shown below.

ETH/USD daily price chart featuring ascending triangle setup. Source: TradingView

Ether broke out of the pattern on the daily timeframe but with little trading volume, showing weakness in the price trend.

The cryptocurrency now tests the triangle’s upper trendline as support for bullish confirmation. Should a rebound follow suit, the price could eye new record highs above $4,384, with the triangle setup’s target sitting near $6,500.

ETH supply crunch 

Additionally, the supply of Ether tokens has been declining after the Ethereum network’s London hard fork. Namely, the Ethereum Improvement Proposal 1559, which went live with the update, started burning ETH that it previously paid to miners.

Data collected from WatchTheBurn shows that the Ethereum network has destroyed almost $2.25 billion worth of Ether tokens since the London hard fork’s launch.

Related: Altcoins breakout even as Bitcoin price falls to $60,000

Additionally, the Ethereum 2.0 deposit contract has attracted more than 8 million ETH, thereby removing them from circulation for at least a year.

Total value staked in Eth2 smart contract. Source: CryptoQuant

Moreover, regulated funds have increased their Ether holdings from 2.43 million ETH in November 2020 to 4.08 million ETH today, signifying increasing institutional demand.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Ethereum nears its own all-time high as ETH price retakes $4K

The 30-day correlation between Ether and Bitcoin remains at 0.81 above zero.

Ethereum's native token Ether (ETH) is likely to hit its own record high in the short term as ETH has broken above $4,000, a crucial resistance level.

Ethereum breaks $4,000, nearing new all-time high

ETH price rallied on Oct. 20 by over 5% to approach $4,100 on the Coinbase exchange for the first time since May 2021. The cryptocurrency's run-up above $4,000 appeared primarily in the wake of Bitcoin (BTC) breaking above $65,000 to enter price discovery.

According to data provided by Crypto Watch, the 30-day correlation between Bitcoin and Ether came out to be 0.81. That shows an 81% linear positive correlation between the two assets.

ETH/USD versus BTC/USD daily price action. Source: TradingView

As a result, Bitcoin's ability to enter price discovery opens up similar prospects for Ether, which still trades a few hundred dollars below its current all-time high of $4,385.

Related: This Ethereum price chart pattern suggests ETH can reach $6.5K in Q4

"If BTC broke to new all-time highs, I don't see why ETH wouldn't," commented Rekt Capital, an independent market analyst, adding:

"Turn ~$4,000 into support, and ETH will levitate towards $4,400 for a break to new All-Time Highs."

ETH price ascending triangle setup

ETH's latest pump boosted its year-to-date profits by almost 450%, compared to Bitcoin's 130% returns in the same period. That also raised the possibility of Ether posting better gains than Bitcoin in the coming sessions, thereby achieving levels much higher than Rekt Capital's $4,400-target.

On Wednesday, ETH price broke above the Triangle's upper trendline. Nevertheless, the move upside accompanied lower trading volume, which could see ETH retest the trendline as support in the near term.

ETH/USD daily price chart featuring ascending triangle setup. Source: TradingView.com

As Cointelegraph reported earlier, ETH had been painting an Ascending Triangle structure with a $6,500 upside target.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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This Ethereum price chart pattern suggests ETH can reach $6.5K in Q4

The upside outlook appears as ETH price eyes a breakout above its five-month-old resistance trendline.

Ethereum's native token Ether (ETH) has rallied by more than 415% this year to over $3,800, and two major bullish patterns developing on its charts highlight the scope for another upside move, ultimately toward the $6,200-$6,500 price range.

ETH price eyes $4K resistance breakout

The first decisive break above the psychological $4,000-mark, which serves as a resistance trendline to five-month-olds ascending triangle and a cup and handle pattern, could trigger a textbook price rally in the coming sessions. 

In detail, the $6,250-level appears as the profit target for the Ascending Triangle pattern, calculated by measuring the widest distance between its horizontal and rising trendlines and adding the output to the potential breakout level around $4,000.

ETH/USD daily price chart featuring Ascending Triangle (black) and Cup & Handle (blue) pattern. Source: TradingView 

Thus, the price boom reflects moves equivalent by roughly 64%.

At the same time, the Cup and Handle pattern, which has a slightly lesser success rate than Ascending Triangle, shows a potential run-up toward $6,550 in the coming sessions, up by 56% from current levels.

Its profit target emerges by measuring the distance between the Cup's right peak and its bottom and adding the outcome to the potential breakout level around $4,000—the same as Ascending Triangle.

One of the primary catalysts that support the two bullish indicators is trading volume, which has been falling across the formation of the said patterns. That suggests a weak consolidation sentiment among traders. Meanwhile, the relative strength index (RSI) below the overbought threshold of 70 also shows adequate room for a bull run.

The Bitcoin correlation effect

The optimistic outlook for ETH appears in the wake of a market-wide upside boom led by Bitcoin's (BTC) 29% month-to-date price rally.

According to CryptoWatch, the 30-day correlation coefficient between Bitcoin and Ethereum sits near 0.89, meaning that the success rate of the two assets moving in sync is 89%.

Ecoinometrics, a crypto-focused newsletter service, noted the positive correlation as it highlighted the Ether price's reaction to Bitcoin "halvings," a pre-programmed event that slashes the BTC's issuance rate by half every four years, against its 21 million supply cap.

The portal studied Bitcoin and Ether's price reactions to the previous two halvings and applied the dataset to predict their tops after the third halving, which took place on May 11, 2020. As a result, it anticipated BTC to rise 29.5x times to hit $253,800 by late November 2021.

Bitcoin vs. Ethereum — Post BTC halving growth trajectory. Source: Ecoinometrics

Similarly, Ecoinometrics highlighted $22,300 as Ether's price target in the same period, based on its 120x price rally following the second Bitcoin halving.

ETH supply crunch continues

More bullish cues for Ethereum appeared in the form of its ongoing supply squeeze.

Related: Ethereum price hits $3,800, boosting bulls' control in Friday's ETH options expiry

Notably, the total number of Ether deposited into the Ethereum 2.0 smart contract reached an all-time high of around 7.98 million ETH on Monday. These tokens remain locked/untransferable for one year or more.

Ethereum total value in ETH 2.0 deposit contract. Source: Glassnode

Meanwhile, the total amount of Ether held across all exchanges continued to stay around its record low levels, with CryptoQuant reporting 18.187 million ETH in reserves on Monday compared to 23.323 million ETH an year ago.

Ethereum reserves across all exchanges. Source: CryptoQuant

Moreover, crypto data tracker Santiment reported a rise in new Ether addresses last week while the number of non-zero Ether wallets reached a record high of 64.5 million.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Top 5 cryptocurrencies to watch this week: BTC, ETH, SOL, MATIC, FTM

Bitcoin’s shallow pullback increases the prospect of a new all-time high in the short term and altcoins like ETH, SOL, MATIC and FTM could move higher while BTC prepares for its next move.

On Oct. 15, news that a Bitcoin (BTC) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then.

Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020.

While high volatility cannot be ruled out in the near term, investors should focus on the major trend and not get caught in minor corrections that are part of the path to new all-time highs.

Crypto market data daily view. Source: Coin360

According to Foxbit founder João Canhada, his daughter has earned a 6,500% profit on the one Bitcoin gift she received when she was born in 2017. Although she couldn’t have traded the coin at such a young age, the returns show that patient investors who are not perturbed by a minor fall can end up with huge returns.

Could Bitcoin's rally to a new all-time high pull altcoins along with it? Let’s study the charts of the top-5 cryptocurrencies that could outperform in the short term.

BTC/USDT

Bitcoin soared above the $58,000 resistance and the psychological mark at $60,000 on Oct. 15. The bears are attempting to stall the up-move at $62,933 but the positive sign is that bulls have not given up much ground. This suggests that traders are not closing their positions after the recent up-move because they anticipate another leg up.

BTC/USDT daily chart. Source: TradingView

Both moving averages are sloping up and the relative strength index (RSI) is in the overbought zone, indicating that bulls are in control. If the price turns up from the current level and breaks above the $62,933 to $64,854 resistance zone, the BTC/USDT pair may rally to $75,000.

The immediate support to watch on the downside is $58,000. A break and close below this level could prompt short-term traders to book profits, pulling the price down to the 20-day exponential moving average ($54,336).

A bounce off the 20-day EMA will suggest that sentiment remains positive and traders are buying on dips. The bulls will then make one more attempt to resume the uptrend. On the contrary, a break and close below the 20-day EMA will suggest that the bullish momentum has weakened.

BTC/USDT 4-hour chart. Source: TradingView

The pair has been rising in a steady uptrend on the 4-hour chart. The bears have not been able to sink and sustain the price below the 50-simple moving average since the pair broke above the symmetrical triangle.

If the price rebounds off the 20-EMA, the possibility of a break above $62,933 may increase because it will suggest that traders are not waiting for a deeper correction to buy. This bullish assumption will invalidate if bears sink and sustain the pair below the 50-SMA. Such a move could open the doors for a drop to $54,000 and then to $52,290.

ETH/USDT

Ether’s (ETH) break and close above the neckline on Oct. 14 completed the inverse head and shoulders pattern. The long wick on the Oct. 16 candlestick suggests that bears are attempting to stall the up-move in the $4,000 to $4,027.88 zone.

ETH/USDT daily chart. Source: TradingView

If the price turns down from the current level, the ETH/USDT pair could drop to the breakout level at the neckline. This is an important support for the bulls to defend. If the price rebounds off this level, the bulls will again try to clear the overhead hurdle.

A breakout and close above $4,027.88 could clear the path for a rally to the all-time high at $4,372.72 and next to the pattern target at $4,657. Conversely, a break below the moving averages could sink the price to $3,257. The bears will gain the upper hand if this support is breached.

ETH/USDT 4-hour chart. Source: TradingView

The bears are defending the psychological resistance at $4,000 while bulls are trying to keep the price above the 20-EMA. The RSI has dropped close to the midpoint and the 20-EMA is flattening out, suggesting a possible consolidation in the near term.

A break and close above $4,000 could signal the resumption of the up-move. Conversely, a break below the neckline of the setup will be the first sign that the momentum may be weakening. The pair could then decline to $3,400.

SOL/USDT

Solana (SOL) broke out and closed above the downtrend line on Oct. 15 which is the first sign that bulls are attempting a comeback. The bears tried to pull the price back below the downtrend line on Oct. 16 but failed.

SOL/USDT daily chart. Source: TradingView

If bulls sustain the price above the downtrend line, the SOL/USDT pair could rise to the 61.80% resistance at $177.80. This is an important level for the bears to defend because if bulls clear this hurdle, the pair could rise to the 78.6% retracement level at $194.60 and later retest the all-time high at $216.

Contrary to this assumption, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it will suggest that traders are closing their positions on pullbacks. The pair could then drop to the critical support at $116.

SOL/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the pair has been trading between $156.36 and $165.61 since breaking out of the downtrend line. If buyers propel and sustain the price above $165.61, the uptrend may resume.

The first target is the overhead zone between $174.86 and $177.79. Alternatively, a break and close below $156.36 could open the doors for a decline to $147.11. Until then, the pair may continue to consolidate in the tight range.

Related: Why HODL for 48 hours? Because your altcoin wallet will thank you

MATIC/USDT

Polygon (MATIC) has been trading in a large range between $1 and $1.80 for the past few days. The 20-day EMA ($1.32) has started to turn up and the RSI has risen into the positive territory, indicating that bulls are attempting to gain the upper hand.

MATIC/USDT daily chart. Source: TradingView

The MATIC/USDT pair could rise to $1.80 which is likely to act as a tough obstacle. If the price turns down from this resistance, the pair could drop to the 20-day EMA.

A strong rebound off this support will suggest that sentiment has turned positive and traders are buying on dips. That will increase the possibility of a break and close above $1.80.

If that happens, the pair could start a new uptrend to $2.40 and then retest the all-time high at $2.70. Conversely, if the price turns down from the current level and breaks below the moving averages, the pair could slide to $1.20 and then to $1.

MATIC/USDT 4-hour chart. Source: TradingView

Both moving averages are sloping up and the RSI is in the positive zone, suggesting that bulls have the upper hand in the short term. The bulls pushed the price above the overhead resistance zone at $1.45 to $1.50 but selling at higher levels has pulled the price back into the zone.

If the price rebounds off the 20-EMA, the bulls will make one more attempt to resume the up-move. A breakout and close above $1.63 could clear the path for a rally to $1.80. This positive view will invalidate if the price turns down and breaks below $1.45.

FTM/USDT

Fantom’s FTM token is in a strong uptrend. The bulls successfully defended the breakout level at $1.94, indicating that sentiment remains positive and traders are buying on dips.

FTM/USDT daily chart. Source: TradingView

The upsloping moving averages indicate advantage to buyers but the negative divergence on the RSI is warning that the bullish momentum may be weakening. If bulls push the price above $2.45, the uptrend may continue, with the next target objective at $3.20.

On the other hand, if the price turns down from $2.45, the FTM/USDT pair may drop to $1.94 and consolidate between these two levels for a few days. A break and close below the 20-day EMA ($1.85) may signal the start of a deeper correction.

FTM/USDT 4-hour chart. Source: TradingView

The bulls are currently attempting to sustain the price above the descending channel. If they manage to do that, the pair could rise to $2.45. This level may act as stiff resistance but if bulls overcome it, the uptrend may resume.

Alternatively, if the price fails to sustain above the channel, it will suggest that demand dries up at higher levels. The pair may then continue to trade inside the channel. A break and close below the channel could pull the pair down to $1.50.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Traders pin Ethereum’s route to new ATH to eventual Bitcoin ETF approval

ETH price is lagging behind BTC's recent gains, but data signals that traders are confident in the altcoin breaking through $4,000 in the short-term.

Ether (ETH) price is lagging Bitcoin's (BTC) price action by 13% in October, but is this relevant? To date, the altcoin has still outperformed BTC by 274% in 2021. However, traders tend to be short-sighted and some will question whether the Ethereum network can successfully migrate to proof of stake (PoS) validation and finally solve the high gas fees issue.

Bitcoin and Ether prices at Bitstamp. Source: TradingView

Moreover, the increasing competition from smart contract networks like Solana (SOL) and Avalanche (AVAX) have been worrying investors:

According to Cointelegraph, the recent speculation over the possible approval of a Bitcoin exchange-traded fund (ETF) raised traders' appetite for BTC. The U.S. Securities and Exchange Commission (SEC) is expected to announce its decision on multiple ETF requests over the next couple of weeks. However, it remains a possibility that the regulator will postpone these dates.

Pro traders are unfazed by the recent price stagnation

To determine whether professional traders are leaning bearish, one should start by analyzing the futures premium — also known as the basis rate. This indicator measures the price gap between futures contract prices and the regular spot market.

Ether's quarterly futures are the preferred instruments of whales and arbitrage desks. These derivatives might seem complicated for retail traders due to their settlement date and price difference from spot markets, but their most significant advantage is the lack of a fluctuating funding rate.

Ether three-month futures basis rate. Source: Laevitas.ch

The three-month futures typically trade with a 5% to 15% annualized premium follows the stablecoin lending rate. By postponing settlement, sellers demand a higher price, and this causes the price difference.

As depicted above, Ether's failure to break the $3,600 resistance has not caused a shift in pro traders' sentiment because the basis rate remains at a healthy 13%. This shows that there is no excessive optimism at the moment.

Retail traders have been neutral for the past five weeks

Retail traders tend to opt for perpetual contracts (inverse swaps), where a fee is charged every eight hours to balance the leverage demand. To understand if some panic selling occurred, one must analyze the futures markets funding rate.

Ether perpetual futures 8-hour funding rate. Source: Bybt

In neutral markets, the funding rate tends to vary from 0% to 0.03% on the positive side. This fee is equivalent to 0.6% per week and indicates that longs are the ones paying it.

Since Sept. 7, there hasn't really been any indication of high leverage demand from either bulls or bears. This balanced situation reflects retail traders' lack of appetite for leverage long positions, but at the same time shows little panic selling or excessive fear.

Derivatives markets show that Ether investors are not worried about the recent underperformance versus Bitcoin. Furthermore, the lack of excessive long leverage after a 274% gain year-to-date should be positively portrayed.

By leaving some room for bullishness without compromising the derivatives market structure, Ether traders seem prepared for a rally above its all-time high, especially if a Bitcoin ETF is approved.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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Beltracchi’s ‘Salvator Mundi’ — Notorious Art Forger Banned from Selling at Galleries Steps Into the NFT Game

Beltracchi’s ‘Salvator Mundi’ — Notorious Art Forger Banned from Selling at Galleries Steps Into the NFT GameWhile the world of non-fungible token (NFT) assets continues to swell, the notorious artist and art forger Wolfgang Beltracchi has joined the NFT industry with a collection of NFTs called “The Greats.” Beltracchi is well known for admitting that he forged hundreds of paintings and sold the artworks in the name of the original famed […]

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Stockbroker platform Public.com adds crypto trading feature

The stock trading app is set to debut crypto trading for its users except those in the state of New York.

Public.com, a neo-brokerage outfit based in New York has announced the launch of crypto trading services for its customers.

In a statement issued on Thursday, Public revealed that users will be able to trade and store cryptocurrencies on the same app used for managing their stock portfolios.

According to the announcement, the new crypto trading feature will be made available to users gradually over the next few weeks.

As part of the crypto trading service, Public is offering support for Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE). Other cryptocurrencies offered include Cardano (ADA), Litecoin (LTC), and Bitcoin Cash (BCH).

Stellar (XLM), Zcash (ZEC), Ethereum Classic (ETC), and Dash (DASH) complete the list of 10 cryptos to be offered by Public.

Public’s crypto trading feature is offered in conjunction with Apex Crypto. Since the latter does not hold a BitLicense in New York, the product will not be available for residents in the state.

Apex Crypto will reportedly provide execution and custody services for Public’s new crypto trading product.

Public’s foray into the crypto space could be part of the company’s plans to rival major stock trading platform Robinhood.

Back in February, Public secured $220 million in additional funding to cross the $1 billion valuation mark.

Like Robinhood, Public also offers zero-commission stock trading but has an added social media component that could leverage the emerging meme stock-fuelled retail investment frenzy.

Related: 6M noobs have bought coins on Robinhood Crypto already in 2021

In February, Public also jettisoned the payment for order flow (PFOF) practice that sees brokerage platforms routing orders to market makers for trade execution rather than sending same straight to exchanges.

The practice has drawn significant controversy and was a major talking point during the Gamestop saga from earlier in the year.

As previously reported by Cointelegraph, Robinhood could lose a significant revenue channel if U.S. regulators ban PFOF.

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Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021

The eerie deja vu scenario can see Ethereum hit $13,000 within six months if history repeats.

Bids for Ethereum's native token Ether (ETH) could rise to $13,000 in the next two months if history repeats.

So shows a fractal indicator from 2017, consisting of at least four technical patterns that were instrumental in pushing the ETH price up by over 7,000%. The same set of bullish indicators have flashed once again in 2021 as Ether trades above $3,350 after rallying over 360% year-to-date.

The 2017 Ethereum fractal, explained

In detail, the four technical indicators are Stochastic RSI, Relative Strength Index (RSI), Bullish Hammer, and a Fibonacci retracement level. It started with the Bullish Hammer's occurrence on Ether's monthly chart in December 2017, followed by a 7,000% price rally in the next six months.

The Hammer-led massive upside move pushed Ether's monthly RSI to over 94, an extremely overbought zone. As a result, the cryptocurrency started consolidating sideways to neutralize its excessively bullish sentiments. RSI started correcting lower.

In parallel, Ether's monthly Stochastic RSI indicator, which compares its closing price with the price range over a given period, also started correcting lower after identifying the cryptocurrency as overbought (a reading above 80 is considered excessively bought and below 20 is considered excessively sold).

Ethereum 2017 fractal indicator. Source: TradingView.com, Jaydee_757

Later, in November 2017, the Stochastic RSI flipped bullish, with its %K line (the blue one), which compares an asset's lowest low and the highest high to define a price range, crossing above the %D line (the saffron line), which is a moving average of %K. Meanwhile, the Stochastic RSI reading was above 20 at the time of flip, which boosted Ether's bullish continuation hopes.

Later, the Ethereum token surged by another 500%, closing above $1,200 in Jan 2018. It coincided with RSI forming a double top, as shown in the chart above. The entire bottom-to-top took place inside an ascending channel range, with its 23.6% Fibonacci retracement level serving as support/resistance level.

The 2021 fractal repeat so far

Ether is almost mirroring the moves from the 2017 fractal as it heads into the final quarter of 2021, albeit without order.

In detail, the Ethereum token rallied by 3,400% to over $4,300, sixteen months after painting a bullish Stochastic RSI cross (when its a %K line surged above the %D line). Meanwhile, the huge upside move—again—pushed Ether's monthly RSI into its overbought zone.

Ethereum 2017 fractal indicator versus 2021. Source: TradingView.com, Jaydee_757

A consolidation period followed, which saw Ether making a Bullish Hammer in July 2021, suggesting sellers had formed a price bottom. 

Jaydee_757, the pseudonymous analyst who first spotted the Ethereum fractal, highlighted the hammer's potential to send the Ether price flying, with a primary upside target sitting near the 2.618 Fib line (at around $13,000).

Related: 3 factors that can send Ethereum price to 100% gains in Q4

The bullish analogy also took cues from a potential Stochastic RSI bullish cross and a double top RSI, waiting to appear on Ether's monthly chart in the next "few months," similar to the one that coincided with the 500% price rally in 2018, as mentioned above.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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