{"id":19664,"date":"2022-04-27T07:30:52","date_gmt":"2022-04-27T11:30:52","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=19664"},"modified":"2022-04-27T07:30:52","modified_gmt":"2022-04-27T11:30:52","slug":"this-famous-blockchain-is-at-its-breakout-point","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/this-famous-blockchain-is-at-its-breakout-point\/","title":{"rendered":"This Famous Blockchain Is at Its Breakout Point"},"content":{"rendered":"

Ethereum is the world’s second, most famous blockchain network after bitcoin.<\/p>\n

With a market cap of nearly $346 billion, Ethereum has come a long way since it first burst onto the cryptocurrency scene in July 2015.<\/p>\n

For context, that market cap places Ethereum next to companies like Exxon Mobil, JPMorgan Chase, and Procter & Gamble.<\/p>\n

And right now, Ethereum is close to completing an important chart pattern…<\/p>\n

Once this pattern breaks out, there’s likely going to be a big move.<\/p>\n

To see what I mean, here’s a daily price chart of Ethereum…<\/p>\n

\"Chart\"<\/div>\n

The pattern I mentioned before is a symmetrical triangle (blue trendlines). These trendlines will eventually come to a point known as the apex.<\/p>\n

The closer the prices trade toward the apex of the triangle, the higher the odds are of us seeing an epic breakout.<\/p>\n

Prices are now getting close to that apex, which means a breakout should happen soon.<\/p>\n\n\n\n
\n

Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Whether prices break out to the upside or downside, we’ll be equally prepared. <\/p>\n

When prices break out of a triangle, they typically travel to one of the two most extreme points from where the trendlines are drawn, depending on the direction of the breakout.<\/p>\n

The first price level is down at $1,786, nearly 38% lower from where prices are currently trading (support).<\/p>\n

The second level is up at $4,811, nearly 68% above where prices are currently trading (resistance).<\/p>\n

So, keep a close eye on this price chart.<\/p>\n

Ethereum has been trading sideways for a while. But if this chart pattern is any indication, that could change soon.<\/p>\n

Happy trading,<\/p>\n

Imre Gams
Analyst, Market Minute<\/em><\/p>\n

<\/p>\n

Reader Mailbag<\/h2>\n

In today\u2019s mailbag, Jeff Clark Alliance<\/em> member Jorge, thanks Jeff\u2026<\/p>\n

\n

Hi Jeff, good morning!<\/p>\n

I’ve found a new passion in trading options. I mostly learned from watching your training videos. Thank you very much!<\/p>\n

– Jorge G.<\/strong><\/p>\n<\/blockquote>\n

Thank you, as always, for your thoughtful comments. We look forward to reading them every day. Keep them coming at feedback@jeffclarktrader.com<\/a>.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re prepared for this move…<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[76],"newsletter-type":[],"ticker":[],"class_list":["post-19664","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-imre-gams"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/19664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=19664"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/19664\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=19664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=19664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=19664"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=19664"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=19664"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=19664"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=19664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}