$ETH Ethereum (ETH) - A Bullish Outlook
Ethereum (ETH) is currently forming an ascending triangle pattern on the weekly chart. This is a bullish technical pattern that suggests a potential upside move. Additionally, a Hidden Bullish Divergence (HD+) on the MACD indicator provides further confirmation of a bullish trend.
If ETH breaks out of the ascending triangle, it could potentially reach a new all-time high (ATH) in the coming year. The measured move (AB=CD) suggests a potential price target of around $7,396. However, it's important to wait for the actual breakout before taking any trading positions.
Please note that while this analysis presents a bullish outlook, the cryptocurrency market is highly volatile. It's essential to conduct thorough research and consider your risk tolerance before making any investment decisions.
Remember: Past performance is not indicative of future results.