According to veteran trader Peter Brandt, Ethereum might have just seen its future looking brighter. Known for his technical forecasts, Brandt feels the altcoin is on the verge of a bullish turnaround. He’s identified an inverted Head and Shoulders formation on the daily chart of Ethereum. This is one of the most classic buy signals in technical analysis. If ETH can hold above that neckline at $2,745, we could be looking at a breakout. The most interesting chart developments I see right now See thread #1$ETH closing price chart inverted H&S pattern I am flat in ETH pic.twitter.com/OCG0GcTdxF — Peter Brandt (@PeterLBrandt) October 21, 2024 Related Reading: ApeCoin Climbs Over 100% On Major Tech Advancements – Details But the excitement doesn’t stop there. Data from IntoTheBlock shows that Ethereum’s network is stronger than ever, boasting over 5 million active addresses across its mainnet and Layer 2 networks. Though market mood is still mixed, this statistic confirms Ethereum’s importance in the crypto ecosystem. Although some investors see Ethereum’s long-term future improving, others are worried by the ..
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