Ethereum Eyes Rise Towards $3K, With 39% ETH Price Rebound Causing Classic Bullish Pattern

A falling wedge setup, as well as a rumor that Amazon is preparing to accept cryptos, is also increasing Ether’s positive appeal. The price of Ether (ETH) jumped to a three-week high on Monday, triggered by similar gains in the Bitcoin (BTC) market that emerged in the wake of rumors of Amazon’s foray into the cryptocurrency sector.

A job posting from the retail giant revealed that it is seeking an executive to build its “digital currency and blockchain strategy”. Meanwhile, worldwide media reports, based on internal sources, speculate that Amazon might start accepting Bitcoin as payments. As a result, the BTC/USD exchange rate rose to a six-week high following the news.

Ether, whose 30-day correlation with Bitcoin is at 88%, also rose on Amazon’s crypto integration rumor. On Monday, the ETH/USD exchange rate rocketed to an intraday high of $2,390, reaching its highest level since July 8. The pair was up more than 6.7% as of 12:20 GMT.

Ether has bottomed out near $1,700 twice in a row in recent sessions

However, as measured from its previous low of $1,720 on Tuesday, the net upward recovery came in at 38.94%. The retracement was strikingly similar to the bullish price action between June 22 and July 7, with the ETH/USD recovering more than 40% from a low at $1,700.

That said, Ether hit two lows near the $1,700 range before bouncing up 38%-40%. Analyst Jonny Moe saw that flipped retracements move and ruled them out as a double bottom pattern.

The bullish setup

In detail, double bottoms are bullish trend reversal patterns, consisting of two troughs around the same level hanging from a neckline resistance. As it plays out, price eventually reverses the neckline resistance as support and rises higher by as much as the pattern’s max height. Stellar XLM price has risen.

Ether fits the description. It has formed two consecutive bottom levels at around $1,700. Meanwhile, the neckline resistance is near $2,390. Therefore, the maximum height of the pattern is $690.

Ether’s double bottom configuration envisions a price around $3,000

Should the ETH/USD break above the USD 2,390 neckline resistance accompanied by a spike in volume, the pair is expected to extend its upward movement by around USD 690. That would roughly push it toward $3,000 (with $2,948 serving as a psychologically bullish target based on historical price action).


Another technical pattern in play is surpassing the double bottom’s upside target by predicting Ether prices at close to $3,250.

The pattern, also known as a falling wedge, develops when the price trades lower within a range that starts out wide but contracts during the downtrend. It eventually causes the price to turn bullish as it sets its profit target at a level typically above the wedge height (measured from the breakout point). VET Vechain price has risen.

Ethereum’s Falling Wedge Configuration

So it appears that the ETH/USD exchange rate is undergoing a bullish breakout, confirmed by a high volume close above the wedge resistance trendline. The profit target for the current setup is $1,208 above the breakout level, which pushes the price towards $3,257.

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

Is a VPN service legal in most countries? Or should you do more research before you start using these services?

Is using a VPN legal or illegal? The short answer to this is “yes.” Using a VPN is completely legal in the Netherlands, and you don’t have to worry about being fined or going to jail if you use a VPN. However, if you use a VPN for illegal activities, such as downloading illegal files, then of course that is illegal. However, it is not the use of a VPN that is illegal, but what you are using the VPN for in this case. Basically, a VPN is completely legal when you are using NordVPN review @ Globalwatchonline.TH

  1. Using a VPN is legal in the Netherlands and many other countries around the world. Nevertheless, there are some countries where the use of the VPN is illegal. Countries like China and Russia are perhaps the most prominent on this list, but there are other authoritarian regimes at the top of this list.
  2. In fact, in the early years, a VPN was used by companies who wanted to protect themselves from online attacks by hackers. Today, a VPN is also widely used by individuals, and is often associated with criminal or suspicious acts. Therefore, although most of the use of a VPN is for other purposes, this association is rarely correct.
  3. Many people who want to use a VPN wonder if using a VPN is legal. The answer, as stated above, is yes, as long as one is doing something that is not illegal in principle. For example, selling drugs would be illegal, while watching Netflix in another country would be legal.

A VPN is legal in the Netherlands and other countries?

In countries like the Netherlands, the United States, England and Canada, using a VPN is completely legal. However, as mentioned above, many people use VPN services for both illegal and suspicious activities. The reputation of a VPN in the Netherlands is about the same as the use of bästa VPN 2021 @ Globalwatchonline.SV

Yet the use of VPN is also linked to many other legitimate motives. For example, many Dutch people use VPN services to better protect themselves over the Internet. The level of encryption offered by such a service ensures that no one in the current market can compete with it.

The best fully legal VPN services

In principle, all VPN services are legal, but that does not mean that everyone follows the ethical guidelines. There is only a small selection of legitimate VPN services that always stay one step ahead of their competitors. Here are the top 5 VPN services for the Netherlands:

Top Beaches To Visit In Your Life

In the name of sand and breathtaking views… these trips are worth the plane ticket! For this list, we’ll be looking at some of the most stunning, unique and inviting beaches found around the world. Discover, plan and book your perfect trip with expert advice. These are the top unique beaches to visit in your lifetime.