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Ethereum (ETH) Forms Bullish Technical Pattern, Raoul Pal Says

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It’s been just revealed that Ethereum is forming a bullish technical pattern, according to the reports coming from Raoul Pal. Check out the latest reports below.

ETH forms bullish pattern

Accoridng to the latest reports, the former Goldman Sachs executive Raoul Pal said that after breaking a downtrend Ethereum (ETH) is forming a strong bullish technical pattern.

In the Global Macro Investor newsletter, Pal says that ETH may form a cup-and-handle pattern.

As the online publication the Daily Hodl notes, the so-called William O’Neil’s Cup with Handle signals a bullish continuation. It’s also worth noting that this is a price consolidation followed by a breakout. He also points to daily DeMark Sequential Countdown analysis.

“The daily chart on ETH looks extremely constructive. We are currently breaking the downtrend at (1), there is an inverse head-and-shoulders at (2) with the right shoulder forming just above previous resistance (one-year downtrend), and a daily DeMark Sequential Countdown in process on day three of 13 higher.”

He continued and said the following:

“Finally, a bit higher up closer to $2,000 a MASSIVE cup-and-handle looks to be forming; all very bullish and something we’re monitoring closely.”

At the moment of writing this article, ETH is trading in the red, and the coin is priced at $1,484.

Ethereum project price explodes

A low-cap decentralized oracle crypto project is skyrocketing this week after it rolled out a major upgrade proposal.

Band Protocol (BAND), which is a cross-chain data oracle platform. This is trading at $2.88 at the time of writing.

It’s also been revealed that the 230th-ranked crypto asset by market cap is up more than 5% in the past 24 hours and 146% in the last seven days, according to the reports coming from the online publication the Daily Hodl.

Stay tuned for more news, and make sure to keep an eye on the crypto market.

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