Ethereum (ETH) has been trading in a narrow range, causing frustration among investors due to its stagnant performance. Despite this, optimism persists among technical analysts who identify a potential bullish reversal pattern—a massive falling wedge—forming on Ethereum's charts. If ETH successfully breaks out, it could target the $4,000–$4,100 range, reinvigorating confidence.
The crypto market is closely watching Ethereum, which has faced a downtrend since December. Although challenges persist, the falling wedge pattern discovered by top analyst Daan suggests a breakout could reignite an upward momentum. However, if unsuccessful, Ethereum may encounter strong resistance or further downside risks.
Ethereum's current trading near the $3,322 level highlights the market's uncertainty. An uptrend requires ETH to hold the critical support zone at $3,300 and breach the $3,500 resistance to confirm bullish sentiment. Failure to maintain support could spark a deeper correction and investor capitulation.
Fonte: www.newsbtc.com ↗