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ETH Price Chart Shows Multiple Bullish Signals, Falling Wedge Pattern Set to Shoot ETH to $5,000 Soon
As the cryptocurrency market continues its relentless upswing, Ethereum’s (ETH) price chart has flashed multiple bullish signals that hint at a significant surge in the near future. Notably, a falling wedge pattern is emerging on the ETH price chart, which could propel the digital asset to unprecedented heights.
Historically, analysts have found that falling wedge patterns have always resulted in a parabolic price pump for Ethereum. With this crucial setup forming, it’s highly likely that the altcoin will soon break out of its accumulation zone and start a new leg up towards $5,000 or higher.
The ETH price chart is currently displaying an unmistakable falling wedge pattern, which has historically led to explosive price movements in the past. This is not the first time we’ve seen such a scenario unfold as this same pattern was also present before the previous ETH price surge.
Source: cryptonewsland.com
