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Ethereum’s Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000

NewsBTC LogoNewsBTC13h ago

Ethereum’s Plunge Could Be Over: This Key Pattern Signals A Rally Back To $4,000 - NewsBTC

Quick Summary:

The price of $ETH is approaching long term support.A bounce from $2.2k for #Ethereum could be extremely bullish.pic.twitter.com/pepeDZm5FA — CryptoJack (@cryptojack) September 4, 2024 Adding to the bullish outlook is crypto analyst Mags, who recently noted on X that Ethereum is currently trading inside a massive triangle pattern.

The analyst stated, "Once a breakout occurs, there’s a strong possibility Ethereum could rise back to $4K.” For context, a falling wedge in technical analysis is a pattern where the price of an asset is in a downtrend but within a narrowing range.

Ethereum Experiencing Rise In Bullish Sentiments Meanwhile, other analysts in the crypto community have shared similar bullish sentiments about Ethereum’s future performance.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 09:00:20 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 411 words

Reading Time: 3 minutes read

Sentences: 78 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22373590

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 4 posts per day

Year Established: 2013

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News Last Updated: 15 hours ago

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Publisher ID: #102

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