Renowned market analyst Peter Brandt has recently posted on his official Twitter account that the Ethereum (ETH) price is in a confirmed bull market cycle. In his recent post, Brandt noted that an inverted H&S pattern emerged on Ethereum’s daily chart.
This pattern, often a bullish signal, is characterized by a low point “head” that is located between two higher low points known as “shoulders”. Brandt’s analysis for Ethereum shows that if the surge continues, ETH price may be preparing for a longer sustained rally.
The most interesting chart developments I see right nowSee thread#1$ETH closing price chart inverted H&S patternI am flat in ETH pic.twitter.com/OCG0GcTdxF
— Peter Brandt (@PeterLBrandt) October 21, 2024
The H&S formation also reveals that the neckline is currently standing at around $2,745. More so, Ethereum has already moved slightly beyond this level, touching $2,765, which is October’s highest price.
Ethereum Breaks Crucial Resi
We współpracy z: https://www.thecoinrepublic.com/2024/10/23/eth-price-analysts-eye-3900-post-recent-october-high/
