Ethereum Rising Wedge Warns of ETH Price Drop Toward $1. 6K The cryptocurrency market is notorious for its unpredictability, and Ethereum (ETH) is no exception.
Despite a recent 25% price surge, a technical setup known as the rising wedge suggests that the token may be due for a correction.
The rising wedge pattern reflects weakening bullish momentum, as evidenced by higher highs and higher lows within an increasingly narrow range on Ethereum's daily chart.