Is Ethereum on The Verge of a Breakout? Symmetrical Triangle Pattern May Suggest So

Crypto analysts have spotted a symmetrical triangle pattern in Ethereum’s monthly price chart and according to them, that could lead to a major breakout.

The breakout may be the beginning of an altcoin season.

What Do Crypto Symmetrical Triangle Patterns Represent?

Technical analysis shows that crypto symmetrical triangle patterns are periods when neither side seems to be dominating in the crypto world. As such, the price range is simpler, but it may lead to a huge breakout. There’s no telling whether the breakout can be an upside or a downside one.

In the case of Ethereum, this crypto still hasn’t reached its all-time high, but it has been showing an upward trend, which may suggest that a positive change is on the way. Nevertheless, crypto analysts still suggest that even though the signs are positive, every trader should implement increased carefulness as nothing is certain.

Macroeconomic factors such as increased interest rates and shifts in regulations on a global scale could still happen and they could affect Ethereum negatively.

An Altcoin Season Could Be Ignited

A big surge in ETH could mark the beginning of an altcoin season. These events occur when investors and traders start investing in mid-cap assets and assets with a lower liquidity rate.

Considering the fact that Ethereum is among the world’s biggest dApps development platforms, it can lead other markets when these trends occur.

Experts suggest that an altcoin season may occur if Ethereum’s value goes over $5,000. Other experts believe that ETFs will be the bigger beneficiary if Ethereum’s value continues going up.

Recently, the demand for ETFs has been quite high as they provide investors with the benefits of both traditional and digital asset management. In doing so, they allow them to be involved in a decentralized system while enjoying a certain level of stability at the same time.

Crypto analysts believe that ETFs can provide investors with gains of up to 80,000%.