Ether price could be on track to new all-time highs, provided it can close the week above the $4,000 mark.Ether price rose over 27% over the past week, flipping key resistance areas into support.
Following its price rally, Ether has broken out of its falling wedge chart formation, a pattern that indicates a potential reversal from the previous downward trend. The breakout could signal a rally to new all-time highs, according to pseudonymous crypto trader Jelle, who wrote to his 83,000 followers in a May 27 X
“$ETH broke out from the falling wedge, then flipped key areas into support & now pushes for $4,000. New highs and new all-time highs are next.”) dominance also suggests that traders’ attention is rotating toward Ether as the ETH/BTC pair has bounced in the past few days. Bitcoin’s dominance fell over 0.98% during the past five days, while Ether's dominance rose 4.4%.
“Ethereum just needs to Weekly Close above $3956 to move into $4000+ territory. At the moment, #ETH is forming a Lower High.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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