Ethereum risks 35% drop by June with ETH price confirming ‘ascending triangle’ fakeout

Cointelegraph

Published May 02, 2022 12:18PM ET

Updated May 03, 2022 04:20AM ET

Ethereum's native token Ether (ETH) faces the possibility of a 35% price correction in Q2 as it comes closer to breaking below its "ascending triangle" pattern.

Ether's price swung between profits and losses on May 2 while trading around $2,825, showing indecisiveness among traders about their next bias.

ETH/USD weekly price chart featuring 'ascending triangle' setup. Source: TradingView
Institutional flows (by assets) as of April 22. Source: CoinShares

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