Ethereum’s Wedge Formation: 2019 vs. 2024
In 2019, Ethereum formed a wedge pattern, characterized by prices making higher lows. This pattern signals potential market instability, as seen in Ethereum's historical performance. Analysts note that the current price structure mirrors past cycles, suggesting possible downturns. Analyst Benjamin Cowen has compared Ethereum’s wedge in 2019 to the current scenario, indicating a possible breakdown similar to the past, potentially leading to a new bottom.
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