As reported by Cryptofrontnews, Ethereum is forming a falling wedge pattern on the daily chart, with price near a potential breakout toward the $5,000 target. The pattern has developed since early August, with buyers regaining momentum near $3,200 support. Ethereum’s MACD is nearing a bullish crossover, signaling strengthening buyer momentum. Institutional accumulation, including a whale accumulating over 392,961 ETH and BitMine raising its holdings to 2.9% of total supply, supports the bullish setup. Regulatory clarity on crypto ETF staking has also boosted institutional confidence.
Ethereum in Falling Wedge Pattern, Eyes $5,000 Breakout as Institutional Buying Rises
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