Will Ethereum's price hit $4,000 soon? Searches for 'Ethereum merge' spiking is just one of the reasons why the $4K mark can be possible in April.
However, symmetrical triangle breakouts do not necessarily result in a continuation trend. For instance, in the booktechnical analysts Robert Edwards and John Magee note that about 25% of all symmetrical triangle breakouts lead to reversals, i.e., the price does not break in the direction of its previous trend, thus defying anticipations.
Ethereum's current breakout appears to be a reversal as it bounces to the upside instead of continuing its previous trend to the downside, as shown in the chart below.A symmetrical triangle's potential breakout target is calculated after measuring the maximum length between the pattern's upper and lower trendline and then adding the result to its breakout point.
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