Meanwhile, the value of Ethereum has formed more bullish patterns on the daily chart, which further corroborates the prospect of price increases.
One such pattern is the falling wedge, which consists of two descending trend lines that approach each other. Usually, there’s a strong bullish breakout when these two lines almost meet-and in this case, that’s already happened.
Ethereum price has also managed to break above the 50-day Exponential Moving Average (EMA), and is now trying to cross the Supertrend indicator. If successful, this would be a very bullish signal for ETH.
ETH
3,111.68
+0.63%
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