Falling wedge pattern points to eventual Ethereum price reversal, but traders expect more pain first

2022.05.27 01:31

Falling wedge pattern points to eventual Ethereum price reversal, but traders expect more pain first

The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether (ETH) briefly fell under $1,800. The ETH/BTC pair also dropped below what traders deem to be an important ascending trendline, a move that traders say could result in Ether price correcting to new lows.

Here’s a rundown of what several analysts in the market are saying about the move lower for Ethereum and what it could mean for its price in the near term.

Source