Uncovering Ethereum's recent trajectory: Is a strong rebound coming soon?
Currently, Ethereum is priced at $2,451, a modest increase of 1.1% from yesterday, marking a slight respite from the recent week-long downward trend, especially after falling below the $2,400 mark.
Going back to June last year, Ethereum's price trajectory showed a clear and continuous upward trend, like a carefully outlined upward channel. Now, the new market trend has once again attracted attention - above the original upward channel, a distinctive symmetrical triangle is quietly taking shape, which makes people wonder whether Ethereum is brewing an unprecedented rebound.
The so-called symmetrical triangle depicts two gradually converging trend lines, getting closer to each other, which often reflects the hesitation and wait-and-see attitude of market participants. However, just like the laws of nature, when these two trend lines finally meet at one point, the long-accumulated power will be suddenly released, pushing the price to break through in a certain direction and start a new journey.
Does the symmetrical triangle on the Ethereum chart indicate that it will usher in a decisive rebound? Every subtle change in the market deserves our close attention.
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