Coin Edition -
- An analyst has asserted that ETH remains on track to reclaim the $4,000 mark.
- The conclusion emerged from a bullish pattern observed on ETH’s four-hour candlestick.
- However, Ethereum is reportedly under the SEC’s scrutiny, dimming the prospects for $4k.
Market Watcher Captain Faibik has argued that Ethereum (ETH) could be on a path to reclaim the lost $4,000 price amid a potential regulatory hurdle. In a recent analysis of ETH’s trajectory on X, Faibik disclosed that the $4,000 target has become evident.
The analyst reached this conclusion after observing ETH’s established candlestick patterns in the four-hour timeframe. Specifically, he observed a bullish breakout through a descending wedge pattern, a known technical formation that marks the end of an asset’s consolidation phase. Accordingly, the analyst declared that the $4,000 threshold for Ethereum is on the horizon.
$ETH #Ethereum Descending Broadening Wedge Upside Breakout is Confirmed on the 4hrs timeframe Chart..✅$4,000 incoming ⌛️