Ethereum chart pattern supports 'moon shot' rally to new price highs if confirmed — Trader

Key Takeaways:

• Veteran trader Peter Brandt suggests a potential Ethereum rally to $3,800–$4,800 if ETH breaks above a rising wedge pattern.

• A short-term pullback may occur as the taker buy-sell ratio drops below one, signaling caution from futures traders.

Ethereum’s native token Ether (ETH) opened its weekly candle at $1,807 on May 7, and now it is close to recording its highest 7-day returns of 38% since December 2020.

Ether also surpassed...