'Golden Triangle' is Over...Ethereum, 9-Year Pattern Collapse Flashes Red Light

▲ Ethereum (ETH)

An analysis suggests that Ethereum (ETH) has entered the final stage of a super-large technical pattern maintained for approximately nine years, reaching a turning point where its future direction will be determined.

According to crypto media outlet NewsBTC on April 25 (local time), Ethereum has been moving within a long-term triangular convergence structure known as the 'Golden Triangle,' repeatedly and accurately predicting major market inflection points.

This pattern is a long-term structure formed since 2017, where the price is compressed between trend lines connecting rising lows and major highs. This structure has been maintained even during periods of large volatility, such as the COVID-19 crash, and has spanned both bull and bear markets.

Currently, Ethereum's price is approaching the apex of this triangular structure. Technically, this signifies that large-scale volatility is imminent, and there is a high probability of a strong breakout in either an upward or downward direction.

In a bullish scenario, a long-term upward trend could accelerate after a breakout above the top of the triangle, leading to significant price increases. Indeed, some analysts have assessed that if this structure is maintained, it could lead to a large-scale bullish cycle in the long term.

On the other hand, a bearish scenario cannot be ruled out. If the bottom of the triangular structure collapses, the long-term pattern maintained until now would be invalidated, and the market structure could fundamentally change. This is identified as a key risk factor that could lead to further downward pressure.

Ultimately, Ethereum is in a situation where it must choose a direction in the final segment of a long-maintained structure, and the direction of this breakout is emerging as a critical variable determining future market trends.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*