S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Ethereum prices, much like Bitcoin, have been consolidating for some time now. Since mid-July, the price has been trading within a very narrow range between the 100-period exponential moving average and the support level at $1,845. It appears that only a breakout from this consolidation could lead to a more significant trend movement. Should the price break through the upper boundary of the consolidation zone and simultaneously breach the moving average, the upward move could reach as high as $2,420, where the upper boundary of the broad 1:1 pattern marked in yellow is located. Conversely, a return below the lower boundary of the consolidation, i.e. the $1,845 level, could lead to a marked acceleration of the sell-off, with a move towards $1,450 then becoming the base-case scenario.
Ethereum – D1 timeframe. Source: xStation5
