This week, Bitcoin and other altcoins livened up the crypto market, potentially lifting up Ethereum price and saving it from further collapse.
With ETH now moving away from the bottom trend line of a massive long-term price pattern, the next possible target is the upper trend line of the same pattern. That target points to $10,000 per Ether, but how long might it take to reach the lofty price objective?
Ethereum Rising Wedge Targets $10,000 Or More
For almost its entire history of price action, ETHUSD has been filling out what appears to be a massive rising wedge pattern. Such patterns are predominantly bearish, breaking down roughly 60% of the time.
That leaves 40% of the time that these patterns break upward. Descriptions of the pattern reveal that wedges are notoriously prone to false breakouts and/or false breakdowns, where price violates one trend line, only to reverse and target the other.
In the latest case, however, Ethereum is holding the bottom line. This makes the next logic
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