Date: 2023-04-12T14:45:02Z Creator: Bitfolio Academy
Exciting news for Ethereum! A bullish flag formation on the weekly exponential chart could indicate a significant, long-term upward trend for Ethereum. This pattern, which resembles a flagpole, results from a vertical rise followed by sideways consolidation, represented by the flag. From March 2020 to November 2021, Ethereum demonstrated a vertical rise, followed by downward sloping accumulation during 2022 and to the present.
A breakout from a bullish flag formation typically leads to a powerful upward move, with the length of the prior flag pole often used as a measure of the move. With Ethereum’s potential to break out to 67K, investors have good reason to be optimistic about ETHer’s future performance.
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