Ethereum (ETH) Triangle Formation Hints At A Double Bottom: Breakout and New ATH?

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Ethereum (ETH) Triangle Formation Hints At A Double Bottom: Breakout and New ATH? - NewsBTC

Quick Summary:

Top analyst and investor Mags has shared an analysis on X, revealing that ETH has been consolidating within a massive triangle formation since 2021. According to Mags, Ethereum is now approaching the lower boundary of this formation, which is a crucial support level that could define its next significant move.

Metrics from these funds show low interest from traditional investors, adding to the bearish sentiment around ETH. As the crypto market is gripped by fear and uncertainty, Ethereum traders are searching for clues on whether a potential recovery is on the horizon.

Ethereum Price Action Suggests A Bounce Ethereum is currently trading at a critical level that could propel the next big move if it holds support.