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Ethereum expects positive movement after breach of falling wedge pattern

After a significant decline on 25 November, Ethereum’s valuation has undergone sideways movement over the past week. The 2nd largest crypto-asset has consolidated between the valuation of $140 and $160, without registering a steep hike or slump.

However, the long-term trend suggested that the price may record another bullish phase in the near future. At press time, Ethereum was valued at $149.16.

1-day chart

Source: ETH/USD on Trading View

The 1-day chart for Ethereum registered a steady decline over the last couple of months. However, under observation, the price movement of Ethereum exhibited a falling wedge pattern. ETH’s price registered prominent higher lows at $220.95, $190.93 and $182.31, whereas strong lower lows were observed at $169.40, $154.09 and $140.49….

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