Ethereum Wedge Means Big Move Coming

Ethereum is showing a wedge pattern formation. A wedge pattern is sideways chop where the lower highs connect with a trend line and the higher lows also connect with a trend line. In technical analysis, this signals investors are deciding which way to take price in a significant move.

Should the wedge break to the downside, Ethereum would likely see $2,700. Should it break to the upside, the double top at $4,000 would likely be seen.

The best investors and traders in the world follow technical analysis for near-term moves. They are unbiased and let the charts tell them which direction is likely. Remember, everything in technical analysis is about probabilities, nothing is a certainty.