Ethereum’s long-term outlook seemed bearish, at the time of writing. In fact, the price might drop by 20-30% as this bearish pattern develops on the charts. Interestingly, this might coincide with Bitcoin’s movements as well.

Here, it should be noted, however, that this is all happening on a weekly time frame, and hence, it could be months before Ethereum’s price actually breaks out of the pattern.

Ethereum weekly chart

Source: ETHUSD on TradingView

The rising wedge is a bearish pattern…

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