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**’Most Powerful Crypto Pattern’: Ethereum Ready for Big Leap, Says Pal**
In a recent strategy session, renowned macro strategist Raoul Pal has sparked significant excitement within the crypto community by highlighting a potent bullish pattern on Ethereum’s weekly chart. The veteran analyst has unequivocally declared that this setup indicates a major price surge is imminent, with Ethereum poised to break out and potentially leave Bitcoin (BTC) in its wake.
According to Pal, the wedge pattern forming on ETH/BTC is of paramount importance, as it suggests an impending shift in market sentiment. This phenomenon is closely tied to the ISM Manufacturing Index, which tracks the overall health of the US manufacturing sector. Historically, Ethereum’s performance mirrors that of Bitcoin during times of economic growth and stability.
As Pal sees it, this correlation serves as a harbinger for the asset’s relative strength against BTC. He points out that ETH/BTC has consistently maintained its value since 2017, effectively underscoring Ethereum’s resilience in the face of market volatility.
The implications of such a breakout are profound, with the potential to reinvigorate investor confidence and steer the broader crypto market towards an era of sustainable growth. As Ethereum’s trajectory aligns with key fundamental indicators, Pal’s analysis posits that this could propel the asset into a new orbit, solidifying its position as a leading smart contract platform.
In conclusion, Pal’s astute observations underscore the likelihood of a massive price increase for ETH, potentially outperforming the flagship cryptocurrency, Bitcoin.
Source: www.crypto-news-flash.com
