TraderEye Market View: Ethereum is trying to raise its head

Wednesday, August 7, 2024

Ethereum is trying to raise its head

The price of Ethereum has undergone a dramatic upheaval and a major crash in recent days. Using a short-term pattern in a 5-minute time frame, it is possible to predict a further correction (or a return to an uptrend, we will only know this in broader pattern bases).

Attached is a 5-minute chart of Ethereum price showing an ascending converging triangle type technical pattern.

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