Ethereum fractal hints at $3.3K as analyst says its ‘go time’ for ETH price
Ethereum’s bullish fractal pattern from 2021 consists of a five-point setup, which ETH is currently mirroring in 2024.
Ethereum’s (ETH) price action has remained underwhelming recently, with a 9% drawdown in September. ETH’s Q3 is en route to becoming the third-worst period in terms of returns since inception.
Yet, favourable technicals are starting to surface for the altcoin as a bullish fractal is reaching a conclusive state.
From a technical standpoint, a market fractal is a historically repetitive pattern that allows traders to identify trend reversals in the charts. Ethereum is currently painting a bullish fractal setup, initially observed in 2021.
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Author: Biraajmaan Tamuly
