Marzell announced that Ethereum has successfully broken out of a Falling Wedge pattern. Related Reading: Ethereum Price Recovery: Analyst Predicts Blow Off Top To $3,300 In One Week, Here’s Why The Falling Wedge is known as a common bullish reversal pattern where a cryptocurrency’s price moves within two converging trend lines, forming lower highs and lower lows.
Additionally, the daily and monthly CLS can be seen, with the former acting as a support area and the latter as a resistance or target for future price movements. ETH Falling Wedge Breakout Targets $2,800 In other news, crypto analyst Marzell has shared a bullish prediction of the Ethereum price in an X (formerly Twitter) post.
The crypto expert who shared this analysis has predicted that Ethereum is set to rebound to $2,600 in this bull cycle. Ethereum CLS Sparks Potential Price Rally David Perk, a TradingView crypto analyst recently published a detailed technical analysis of the Ethereum price.
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