Summary
- Cointelegraph analyzed that Ethereum (ETH) is moving within a bull flag pattern on the weekly chart and could technically rise to $10,000.
- It said that breaking above the $4,440 upper trendline is the key to the rise.
- However, it said the correction period could lengthen due to a 7-week RSI decline.
An analysis said that, technically, Ethereum (ETH) could rise to $10,000.
On the 14th (local time), crypto asset (cryptocurrency) media Cointelegraph said, "Based on the weekly chart, ETH is moving within a bull flag pattern," and "if it breaks above the upper trendline at $4,440, there is room to rise to $10,000."
It added, "However, the 7-week relative strength index (RSI) falling from 74 to 54 could lengthen the adjustment period somewhat."
As of 00:15 on the 15th, ETH was trading at $3,959.61 on the Binance Tether (USDT) market, down 3.89% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)
