The symetrical triangle that formed at the end of the recent downtrend was optimistically viewed by many as a potential trend reversal. Then the news of a possilbe approval for an ETH ETF after tweets by the SEC caused a breakout.
A re-test of teh symetrical triangle around $7.20 is a possible scenario, however, if after the retest price does not hold above $6.90, then the recent spike in price will prove to be a false breakout.
A re-test of teh symetrical triangle around $7.20 is a possible scenario, however, if after the retest price does not hold above $6.90, then the recent spike in price will prove to be a false breakout.