Technical Analysis and Market Entry: Ethereum Moving Within a Bearish Pennant Structure

Ethereum price is moving within consolidation mode, as the range further narrows subject to an imminent breakout. During the noted period, ETH/USD daily price action has formed a bearish pennant structure, which is subject to a potential breakout south.

Péter Szilágyi, a lead developer at the Ethereum (ETH) Foundation, recently confirmed that the expected date for the next hard fork will be 4 December. One of the most anticipated attributes of the Istanbul hard fork is the implementation of a new proof-of-work (PoW) consensus algorithm called “ProgPoW”.

Timeline of Ethereum