Ethereum forms two bullish flag patterns. The measured movements of both patterns indicate a new annual high.

• Ethereum forms two bullish flag patterns
• The measured movements of both patterns indicate a new annual high
• An increase to $ 2,600 would confirm the largest bullish flag

The cryptocurrency market remains resistant despite the continuing scandals that affect the industry. Investors still believe in the potential of leading cryptocurrency; Therefore, Bitcoin, Ethereum and other coins are traded near their maximum of 2023.

Bitcoin recently reached a new annual high, but Ethereum did not. So if Bitcoin is leading, Ethereum should follow.

Interestingly, the technical analysis shows two bullish flag patterns. Both indicate new annual highs; Each downward movement should be considered with caution.

Ethereum-Diagram by Tradingview

$ 2,000 offer strong resistance

The market recently failed due to the $ 2,000 mark. Although it reached a new annual high, the bears sold the round level and the price quickly fell to $ 1,600.

However,

did not succeed in breaking the series of higher deep stalls. In addition, two interest bullies can be seen, with measured movements over $ 2,000.

The largest pattern that can be seen in black top indicates an increase to $ 2,600. The smallest, to an increase to $ 2,200

In both cases, this means that Ethereum will achieve a new annual high and the tendency remains bullish as long as the price movement remains over $ 1,600.