Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract platform’s future. In a recent report, Nicholas Merten predicts that Ethereum has less than a year to break free from an ascending triangle pattern, a technical indicator that holds significant implications for the cryptocurrency’s trajectory. Related Reading: Tron Shows Might With 4.8-M Daily Transactions – Will This Boost TRX Price? The Enigma Of The Ascending Triangle Pattern In a nutshell, an ascending triangle pattern is a chart formation that typically indicates an impending breakout. It forms when the price of an asset reaches higher lows, forming a rising trendline (the ascending side of the triangle), while facing resistance at a horizontal level (the flat top of the triangle). The longer the pattern persists, the more pressure builds for a decisive price move, either upwards or downwards. Merten, a prominent voice in the crypto community, has been closely monitoring Ethereum’s performance against this crucial pattern. According to Merten, Ethereum’s inability t ..
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