#Ethereum is going to set a new all-time high in 2021.
Turning to the long-term monthly chart, we see that ETH price has been on a strong upward trend. It is trading at $1,159, which is slightly below the all-time high of $1,415. A look at the chart also shows that the price is forming a cup and handle pattern.
Therefore, in the near term, I suspect that the price will climb to the ATH and then experience a pullback (handle) before rocketing higher again.
Ethereum closed up 32.760 at 1,159.140. Volume was 45% below average (neutral) and Bollinger Bands were 326% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Ethereum is currently 151.2% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect moderate flows of volume into Ethereum (mildly bullish).
Our trend forecasting oscillators are currently bullish on Ethereum and have had this outlook for the last 29 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles.
During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white candles.
Three white candles occurred in the last three days.
Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
