- Ethereum broke out of a symmetrical wedge on the price charts
- ETH scooped up 70% in RWA tokenization
Ethereum’s (ETH) charts saw the first signs that may shut down the narrative of “ETH is Dead.” This, after the altcoin recently broke out of a symmetrical wedge pattern and surged to trade around its $3,000 resistance level, at the time of writing.
The aforementioned breakout indicated strong bullish momentum – A sign that ETH may hold its position above $3,000. Here, it’s worth noting that such a decisive move past the wedge’s upper boundary was spurred by couple of metrics in Ethereum’s ecosystem.
Source: Trading View
If the prevailing market trend persists, ETH could soon challenge its higher resistance levels.
If ETH continues to trade above $3k, it might confirm the likelihood of further gains and a potential new resistance test at $4,000. Especially if talk of an incoming altseason grows.
