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<ul> 
 <li>Experienced trader Peter Brandt sets a $1,993 target for Ethereum post-breakout.</li> 
 <li>ETH completes a nine-day flag pattern, indicating potential uptrend continuation.</li> 
 <li>ETH currently trades at $1,836 with a 71.30% volume increase.</li> 
</ul> 
<p>In a recent analysis, seasoned trader Peter Brandt has confidently set a price target of $1,993 for Ethereum (ETH) following a notable breakout.&nbsp;</p> 
<p>Brandt, armed with over 40 years of trading experience, revealed his prediction after closely observing Ethereum’s price movements. His analysis pointed towards the formation of a right-angled expanding triangle pattern, a significant indicator in technical analysis.</p> 
<p>This pattern, which began its formation on August 17, was solidified on October 23 after Ethereum experienced a 6.17% surge. Despite fluctuations and lows, ETH managed to stay within the confines of this broadening triangle until its completion.&nbsp;</p> 
<p>What followed the triangle’s completion was equally compelling. Ethereum broke above the upper trendline of the triangle, suggesting a potential continuation of the uptrend initiated on October 12. However, after this breakout, ETH formed a nine-day flag pattern, a common consolidation phase that often precedes a significant market movement. During this period, Ethereum’s price fluctuated between $1,744 and $1,865, demonstrating a consistent upward trajectory.</p> 
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   <p lang="en" dir="ltr">Another example of classical charting principles<br>Completion today of small 9-day flag reconfirms Oct 23 completion of right angled expanding triangle <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> <a href="https://t.co/sDW5YMhF0e">pic.twitter.com/sDW5YMhF0e</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1719911006187704640?ref_src=twsrc%5Etfw">November 2, 2023</a>
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<p>Currently trading at $1,836, Ethereum has experienced a 1.76% increase over the past 24 hours. Notably, the asset’s trade volume has surged by an impressive 71.30%, reaching a substantial value of $11.6 billion.&nbsp;</p> 
<p>This surge in trading volume positions Ethereum as the third-highest cryptocurrency in terms of market activity. With the completion of the flag pattern and a substantial volume increase, ETH appears poised for a bullish continuation.</p> 
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</ul> 
<p>The post <a href="https://cryptonewsland.com/expert-predicts-ethereum-to-hit-1993-amidst-bullish-patterns/">Expert Predicts Ethereum to Hit $1,993 Amidst Bullish Patterns</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Expert Predicts Ethereum to Hit $1,993 Amidst Bullish Patterns

Crypto News Land

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