Why Ethereum Failed to Break Above a Bullish Falling Wedge Pattern What is a Bullish Falling Wedge Pattern? A bullish falling wedge pattern is a technical chart pattern that is formed when the price of a cryptocurrency, such as Ethereum, is in a downtrend but starts to form lower highs and lower lows within a narrowing range. This pattern is typically seen as a bullish signal, indicating that the price may be ready to break out of the wedge and enter into a new uptrend. The Importance of the Failed Breakout When a bullish falling wedge pattern is formed, traders often look for a breakout above the upper trendline as a confirmation of the pattern. However, in the case of Ethereum, the price failed to break above this key resistance level, resulting in a failed breakout. What Caused the Failed Breakout? There are several factors that may have contributed to Ethereum's failed breakout. One of the main reasons could be the overall bearish sentiment in the cryptocurrency mar...
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