Analyst Identifies Pattern To Trigger Rally To ATH

1:29 am
November 28, 2023
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**Ethereum’s Potential Rally to All-Time Highs: Analyst Identifies Key Pattern**

Analyst FieryTrading has pointed out a bullish triangle pattern that Ethereum has been trading in for over two years. This pattern, taking shape in the aftermath of the Terra Network collapse, has seen Ethereum’s price remaining stagnant, unable to break out of this trend.

The pattern indicates that for Ethereum to break out of this bullish triangle, it would have to surpass the $2,200 resistance level. If it successfully does so, it could trigger a massive rally, potentially leading to the cryptocurrency’s price returning to its 2021 all-time high levels of above $4,800 according to FieryTrading.

While this bullish picture might take some time to come to fruition, it indicates upward potential for Ethereum in the long term. In the short term, Ethereum has demonstrated strong performance, with its price rising by 16.53% in the last month alone and exceeding the $2,000 resistance, now turned into support. Currently, Ethereum holds the position of the second-largest cryptocurrency, boasting a market cap of approximately $250 billion.

*FAQ*
**What factors might contribute to Ethereum’s potential rally?**
According to FieryTrading, a potential rally may be driven by a breakout through the area full of short-trade stop-losses, potentially resulting in significant gains.

**Is Ethereum expected to reach its all-time high in the near future?**
While a move to $4,800 could translate to a 130% increase from its current levels, the analyst suggests that this milestone may not be reached until at least the year 2024.

**What is the current market cap of Ethereum?**
Ethereum currently boasts a market cap of approximately $250 billion, solidifying its position as the second-largest cryptocurrency.

**What has been Ethereum’s recent price performance?**
Ethereum has demonstrated strong performance, with its price rising by 16.53% in the last month alone and exceeding the $2,000 resistance, now turned into support.


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