Bullish ETH V-Shape Recovery Scenario Draws Crypto Investor Eyes to the Ethereum Price Chart

News

  • Analyst highlights a bullish signal on the Ethereum price chart. 
  • He draws light to the ETH v-shape recovery scenario.
  • The pattern resembles Bitcoin’s bullish move in the previous bull cycle.

As the price of Bitcoin continues to stagger in the lower $80,000 price range, seasoned analysts are steadily shifting sights to altcoins. Presently, many analysts are watching the pioneer altcoin Ethereum (ETH). According to one analyst, the Ethereum price chart is forming an ETH v-shape recovery scenario.

Can ETH Still Set a New ATH This Bull Cycle?

With the price of Bitcoin falling at a steady pace, and with more predictions for greater dips to the $70,000 price level and lower growing, analysts are keeping a close watch on the BTC Dominance. If BTC Dominance falls then altcoins will likely finally have their moment to shine, possibly pulling promising altcoins into the peak altseason phase. 

Several altcoins have already pumped heavily so far this bull cycle, some even having set their own new ATHs. However, assets like XRP and ETH have not yet set a new ATH this bull cycle. This means that ETH will lead the altseason soon after it sets a new ATH and the currency expectation expects this price action to occur as soon as possible. 

Bullish ETH V-Shape Recovery Scenario

https://twitter.com/Washigorira/status/1899496695387308509

As we can see from the post above, this analyst highlights a bullish signal forming on the Ethereum (ETH) price chart. In detail, the analyst spots an ETH v-shape recovery scenario. He then goes on to state that the ETH market structure closely resembles Bitcoin’s from the previous bull cycle. Thereby, he lights a bullish expectation for ETH price to pump parabolically very soon.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply