Ethereum Is About To Go ‘Parabolic’ – Analyst Signals Golden Triangle Formation

An analyst on X has made a bold call on Ethereum, stating that the asset is on the verge of a parabolic move. The claim is based on a golden triangle formation on the chart, a setup that shows a breakout could be approaching for the leading altcoin. This approaching breakout could also serve as the driving force for a broader altcoin market rally. Related Reading: Cardano In Danger Zone? Trader Drops ‘Time Bomb’ Claim Golden Triangle Pattern 9 Years In The Making Technical analysis of Ethereum’s 3-week chart stretching back to 2017 shows the cryptocurrency trading within a narrowing triangular structure. The pattern is defined by a rising lower trendline anchored from the March 2020 Covid crash low and a horizontal upper trendline connecting the rally peaks of 2021, ...