#BitcoinHashRateSurge In particular, renowned cryptocurrency trading expert Ali Martinez noted that ETH has been trading within an ascending parallel channel since June 2022, creating a pattern that could pave the way to the $6,000 target.

An ascending parallel channel is a bullish pattern that signals higher highs and lower lows, indicating sustained upward momentum and a long-term uptrend. Price consolidation within the channel often creates buying opportunities.

As long as the channel holds, this indicates continued growth and potential breakouts. The analyst noted that the price of Ethereum has consistently followed this pattern.