A crypto analyst has identified a Golden Triangle, a rare structure that has been forming on the Ethereum (ETH) chart for almost nine years. According to the analyst, the Ethereum price has remained within this triangle during both bullish and bearish periods.
Ethereum Golden Triangle Could Trigger A Surge To $10,000Once the price reaches this apex, two outcomes are possible: Ethereum could either break upward or move lower through the bottom of the structure.
If the cryptocurrency declines to $1,950, it would mark a more than 15% drop from current prices. Even so, despite outlining this downside risk, Merlijn remains confident that a breakout to the upside may be the likely scenario.
Featured image from Unsplash, chart from TradingView
