Ethereum has recently been making waves for the right reasons, providing bullish cues to its native token, ether (ETH). Now, the cryptocurrency’s price chart reveals a compelling pattern reminiscent of the set-up in bitcoin (BTC) before it chalked out a record rally last month.
Ether’s three-line break chart, which filters out day-to-day noise and erratic price movements, shows the cryptocurrency’s eight-month corrective trend, characterized by lower highs and lower lows, has ended and the broader uptrend from the October 2023 lows near $1,500 has resumed.
Such breakouts often trigger a bullish cascading effect on price by attracting new buyers and forcing out sellers that restricted price rallies during consolidation.
Bitcoin witnessed a <a href=”https://www.coindesk.com/markets/2024/10/15/this-chart-indicates-bitcoin-may-be-headed-for-record-highs-above-73k” target=”_blank”>similar breakout in mid-October</a>, signaling a rally to the then-record highs above $73,000. BTC
We współpracy z: https://www.coindesk.com/markets/2024/12/02/ethers-price-chart-now-mirrors-a-pattern-that-foretold-bitcoins-record-rally
