Since the beginning of the new decade, the second largest crypto asset on the market, Ether (ETH), has been experiencing a steady rise of value. This lead Ethereum owners to think about how long would the bullish run last before a weekly correction occurred. Despite the fact that long-term predictions on Ethereum prices are currently unstable, it is very likely that the digital asset will keep the upward movement in the market for some time, yet, it may not be a very smooth climb for Ether.
Based on information from CoinMarketCap, at the time of writing the market price of Ethereum is slightly more than 269 USD. and the market cap of Ether is 29.7 billion USD. According to the 24-hour chart, the Ethereum price has undergone a positive change of almost 2.40 percent during the last day. On the other hand, considering the 4-hour chart, we can see an ‘Adam and Eve’ formation which can be a sign of short-term and the pattern is considered bullish.
If Ethereum price pushes past another price resistance level it is highly possible that the coin would reach and surpass 290 USD in a matter of days. After that, it is possible that another resistance breach will lead to a rise above 320 USD. However, considering the ‘Adam and Eve’ formation if Ether fails to break above the resistance level could cause issues slowing down the process of price growth. At the same time, on the 4-hour chart, there is also a symmetric triangle pattern, which is also a bullish sign. Looking at the two patterns on the chart, it is possible that Ether will stay in the region under 290 USD for some time before the breakout takes place.