ETH Ethereum falling wedge pattern

13 Mei

If you haven`t sold ETH at the top:

As the cryptocurrency market navigates through choppy waters, Ethereum, the second-largest cryptocurrency by market capitalization, finds itself ensnared within a bearish formation known as a falling wedge pattern. This technical setup, coupled with broader market uncertainties, casts a shadow over Ethereum’s short-term prospects, with a looming price target of $2400 becoming increasingly probable.

A falling wedge pattern typically signals a continuation of a prevailing downtrend, suggesting that Ethereum’s recent struggles may persist in the near term. Characterized by a series of lower highs and lower lows, this pattern reflects a gradual erosion of bullish momentum, often culminating in a breakdown below the wedge’s lower boundary.