Aethir Price Set for 50% Upside After Breaking Out of Double Bottom Pattern

Aethir’s price has surged by 85% over the past week, influenced by several positive ecosystem developments and the expectation that the project will wrap up Q3 with record-breaking earnings.

Key Takeaways

Aethir (ATH) has increased by 85% in just one week and is trading at $0.058.
The token has broken out of a bullish double-bottom pattern, suggesting potential price movement to $0.088.
Technical indicators show a possible “golden cross,” signaling further gains.
Strong revenue growth and upcoming events may attract new investors.

As per data from crypto.news, Aethir’s token was priced at $0.058 on September 15, during afternoon trading in Asia, marking an increase of nearly 86% over the last week and a remarkable 132% rise from its lowest point earlier in the year. The recent breakout from a double-bottom pattern—a well-known bullish reversal sign—indicates a potential rally that could bring the price up to $0.088 in the coming weeks.

The daily chart reveals that Aethir’s price has recently escaped from a double-bottom configuration that had been developing since the start of this year. In this chart pattern, the price shows two successive low points (the bottoms) at a similar level, separated by a rebound that sets the neckline. For Aethir, the neckline is at $0.056, while the bottoms are around $0.025.

Aethir’s price has broken out of a double-bottom pattern on the daily chart, accompanied by the potential formation of a golden cross.
Aethir’s daily chart showing the breakout from the double-bottom pattern, with the possibility of a golden cross forming — September 15 | Source: crypto.news

At the time of writing, the token's price was nearing the neckline again. A rebound from this level would strengthen the bullish reversal confirmation and likely lead to further price increases.

Moreover, the short-term moving average (50-day SMA) and the long-term moving average (200-day SMA) are approaching a bullish crossover. Known as a golden cross, this pattern often precedes substantial short-term gains.

Putting all these signals together—the breakout from the double-bottom, the potential rebound from the neckline, and the impending golden cross—creates a strong combination of bullish technical signals indicating that Aethir’s price could have more upward momentum in the weeks to come.

Calculating the difference between the neckline at $0.056 and the bottoms at $0.025 reveals about a 55% gap. By applying this same distance above the neckline, we arrive at a breakout target of $0.088, which is approximately 52% higher than the current price.

Consequently, the bullish outlook for Aethir will remain viable as long as the price remains above the critical support level of $0.044.

Aethir price eyes 50% upside after breaking out of double bottom pattern - 1

Factors That Could Propel Aethir's Price Growth

Aethir has several factors that may fuel its price increase. The team recently announced that the Aethir Network achieved record revenues in both July and August, averaging around $13 million each month. Investors are hopeful for a similar performance this month, which could result in Q3 being the strongest quarter ever for the project.

This impressive performance could spark renewed investor interest in the token this week.

In addition, the Layer-2 network has integrated the ATH-USD price feed from Pyth Network, ensuring accurate and up-to-date pricing across decentralized finance (DeFi) applications. This enhancement bolsters Aethir’s presence within the larger decentralized ecosystem and increases its utility for trading and lending platforms.

Other positive factors include Aethir’s involvement in the upcoming Korea Blockchain Week, its participation in the AI Unbundled alliance, and its collaboration with IoTeX as an ecosystem partner. These strategic initiatives enhance Aethir's visibility and strengthen its position within the AI and blockchain landscapes, thus contributing to its long-term growth potential.