Like altseason arrived: ETH follows bullish chart patterns

Hello,

Like altseason arrived, Ethereum established a bullish trend in the green channel. Furthermore, the price has been in the consolidation of a symmetrical triangle (green triangle), which seemingly broke upward. The bullish channel and the symmetrical triangle indicate the optimal risk-reward ratio for a long position. If the break isn't a bull trap, ETH might continue going up until the $4500 psychological resistance, which aligns with the top of the channel. Breaking the channel upward could send ETH to $5300.

Following a bearish scenario, ETH might be rejected from the current price (top of the triangle), in which case, it might find support at $3400 - the middle of the channel.

Regards,
Ely