Ethereum’s bullish flag: A signal for investors to prepare for gains?

Ethereum’s price entered a bullish flag pattern, and a successful test could allow ETH to test its March high soon.was bullish as the token’s daily chart showed a massive green candlestick. But last week wasn’t in investors’ interest as the token dropped substantially.revealed that Ethereum’s price dropped by more than 7% in the last seven days. At the time of writing, ETH was trading at $3,516.89 with a market capitalization of over $422 billion.

A successful test could initiate a bull rally. If that happens, then it would be surprising to see Ethereum retest its March highs of $4k in the coming weeks.It will be crucial for ETH to register a few green candlesticks in the coming days in order for ETH to test the bullish flag pattern. To see whether that’s possible, AMBCrypto analyzed CryptoQuant’s

Things in the derivatives market also looked optimistic as ETH’s funding rate rose. This meant that long-position traders are dominant and are willing to pay short-position traders.

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