Ethereum Forms Bull Flag Pattern, Analyst Predicts 20% Price Surge to $4,090
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Ethereum (ETH) is showing a bull flag pattern, leading analysts to predict a 20% price surge to $4,090. Despite the anticipation around its ETFs, ETH's price remained relatively unchanged over the past 24 hours. However, ETH has a monthly gain of 4.66%, currently trading at $3,464. Market attention is on the potential price increase.
Analysts are optimistic due to the formation of a bull flag pattern, a technical indicator that suggests a continuation of an upward trend. This pattern is boosting confidence in a price surge.
The recent launch of Ethereum's ETFs was expected to boost its price, but immediate impacts have been minimal. Nevertheless, traders remain hopeful for a significant price increase in the near term.
Source: coinedition.com ↗
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