Ethereum (ETH) price underwent a bearish breakout from a pennant pattern last week. Bulls were picking up ETH coins below $3,900, and with European equities firmly in the green this morning, expect some risk-on sentiment to set the tone in cryptocurrencies in the coming days. For that reason, bulls have found they have the trend on their side and look set to push price action from $4,000 back to $4,646 in just a couple of days.
Ripple (XRP) has been stuck in a wedge or pennant pattern since last week with lower highs and higher lows, consolidating towards a breakout. The breakout looks to be unfolding today, supported by a positive turn in market sentiment, which is pushing equities into profit, and is expected to lift cryptocurrencies as well. As more investors start picking up XRP coins, expect a return towards $1.0, holding a 20% potential gain by the end of the week.
Cardano price has set up liquidity pools that are likely to be taken advantage of going forward. The most probable direction for ADA seems to be bullish, with on-chain metrics providing a tailwind to the claim.