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Ethereum Triangle Breakout: Will $1,150 Be the Next Major Move?
In a recent and significant development, Ethereum’s price has broken out of its multi-year triangle pattern. As a result, investors are now focusing their attention on the potential for a decline towards $1,150.
The breakout occurred at a price level of $1,810.49, marking a critical moment in the cryptocurrency market. The implication is that the next major move may be downwards, potentially pushing Ethereum’s value down to the previously mentioned target of $1,150.
It’s essential to note that triangle patterns have historically been seen as one of the most reliable indicators for significant price movements. Therefore, if this pattern plays out in a similar manner to past instances, we could see Ethereum plummeting towards the predicted target.
In light of this development, it seems increasingly likely that $1,150 will be the next major move for Ethereum’s price.
Source: https://cryptonewsland.com/ethereum-triangle-breakout-will-1150-be-the-next-major-move/
