Ethereum (ETH) Soars Past $3.1K: Is a 50% Price Surge on the Horizon?
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- Ethereum shows signs of breaking out from its falling wedge pattern, sparking discussions of a potential bull rally.
- Metrics indicate that Ethereum may currently be undervalued.
- Market indicators present ambiguous signals regarding an upcoming bull rally.
Ethereum’s potential breakout from its falling wedge pattern and the ambiguous market signals have sparked discussions about a possible bull rally. The article delves into the metrics suggesting Ethereum’s undervaluation and the market indicators.
Ethereum’s Price Momentum
On May 6th, Ethereum [ETH] regained its momentum as its price crossed the $3.1k mark. As the token crossed this psychological resistance, it also consolidated inside a bull pattern. A breakout above this pattern could potentially lead ETH to new highs in the coming weeks.
