After a prolonged period of weakness for a year and a half against the Bitcoin price, the Ethereum price is currently showing strength again and could be set for an explosive move, according to several renowned analysts. Ethereum/BTC Chart Is A ‘Stunner’ In an analysis of the ETH/BTC trading pair, renowned financial expert Raoul Pal has brought to light a compelling dual-chart pattern. The formation of both a “mega wedge” and an inner descending channel is setting the stage for what might be a significant breakout for Ethereum when priced in Bitcoin. Pal stated: The ETH/BTC chart is an absolute stunner…and ready for the next big move, the break of the mega wedge…let’s see how it pans out…. The “mega wedge” pattern, discernible on the weekly ETH/BTC chart, showcases a contraction of price movement between two converging trend lines over an extended time frame. The upper trend line, acting as a dynamic resistance, has repeatedly pushed back ascending price attempts. Conversely, the lower trend line has provided a sturdy support base. ..
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