Ethereum Price Poised for Historic Rise as Bull Structure Nears Completion
Ethereum ETH is on the verge of a major price surge as a large bull structure nears completion.
This coincides with the launch of the much-anticipated Ethereum ETH trading, which has been approved by the United States Securities and Exchange Commission (SEC).
Despite a slight price drop of 2.9% to $3,438 over the past 24 hours, ETH remains stable while Bitcoin (BTC) stands firmly above $66,700, just 10% below its all-time high.
Symmetrical Triangle Pattern Suggests Potential Breakout
ETH's price chart shows a neutral to uptrend with price fluctuating within a symmetrical triangle pattern.
A potential breakout is imminent as price approaches the upper boundary of the triangle. This pattern is part of a bull flag, a continuation pattern that could push Ethereum up 161% to $9,600.
The SEC's approval of Ethereum $ETH trading marks a major milestone in the crypto market and could allow Ethereum to achieve substantial price gains relative to Bitcoin.
A breakout from the bullish continuation pattern could push $ETH 160% higher to $10,000, a critical moment for investors and traders.
