Ethereum Poised for Massive Breakout? š
Entry: N/A
Target: N/A
Stop Loss: N/A
Ethereum's price is holding strong, climbing for five consecutive days as the market awaits the Federal Reserve's rate decision. This latest surge marks a ~25% jump from last month's lows. A leading analyst has spotted a powerful inverse head and shoulders pattern on Ethereum's weekly chart, a classic signal that could precede a significant bullish breakout in the coming months. This pattern, formed over nearly two years, suggests a strong comeback is on the horizon.
Adding to the bullish sentiment, ETH has also formed a falling wedge on the daily chart and is pushing above key technical indicators like the 50-day EMA and the Supertrend. This technical confluence, combined with soaring demand from American investors via spot ETH ETFs and strategic accumulation by entities like Tom Lee's BitMine, has driven exchange supply to record lows. This is a powerful indicator of sustained upside potential for $ETH.A significant move is expected.
#Ethereum #ETH #Crypto #Trading
