Ethereum’s break out from the key pattern signals a reversal to a bullish momentum.

Analyst CryptoNova predicts Ethereum’s price will surge to $10,000 following ETF approval.

Crypto analyst ZAYKCharts pointed out a bullish pennant breakout on ETH’s chart.

$ETH has recently broken out from a multi-month falling wedge pattern. This bullish formation, highlighted by analyst Jelle (@CryptoJelleNL), shows Ethereum reclaiming key resistance levels and pushing higher. Additionally, anticipation mounts as the SEC is set to rule on Ethereum spot ETFs this afternoon, potentially fuelling Ethereum's bullish momentum.

The falling wedge pattern is a bullish signal formed by converging downward trend lines, indicating a potential reversal from a bearish trend to an upward one. Analyzing Jelle’s chart shows lower highs and lower lows, with ETH breaking through the upper trendline lately. This breakout is crucial as it confirms the bullish reversal signal suggested by the pattern, leading to a significant upward price movement.