Ethereum Fractal Pattern Hints at $3.3K: Go-Time For ETH Surge?
Ethereum ETH’s price is showing a familiar fractal pattern, prompting analysts to predict an upcoming price spike for the token. Ethereum’s bullish fractal pattern from 2021 consists of a five-point setup, which ETH is currently mirroring this year. Data from TradingView illustrates the pattern that we saw in 2021 and how it can be repeated in 2024. The 2021 pattern witnessed a sharp correction between I and II , and II marks the fractal low value. From II to III , the price recovers to the Fibonacci zone of 0.5-0.618, i.e., also known as the “golden zone.” Source: TradingView IV represents a higher low to II, and V represents a lower high concerning III . The pattern concludes with VI forming an equal low with IV, where a liquidity sweep occurs and the fractal concludes with a bullish exit. This looks exciting, but will have to be precisely what occurs with ETH in 2024 to mimic the same bullish rise. Ethereum 2024 Pattern Mimicking 2021? This year, the same fracta...