The Ethereum market eagerly awaits the April 12 roll out of the Shapella upgrade which is projected to be a bullish trigger. During the consolidation period from 8th November 2022 to 11th January 2023, there was no major price variation for ETH. On 12 January 2023, slight increase in price was seen and the bullish run lasted till the 20th of the month having a 20% surge in ETH's price. Presently, Ethereum is trading in an Inverted Head and Shoulders pattern which is an indicator of an upcoming price explosion. The experts forecast that ETH's price will reach $2300 by 20 May 2023, showing a rise of 27% from the Order Block Level. During the consolidation period, traders were careful in making trades and some of them used this time to buy Ethereum at a discounted price. The Inverted Head and Shoulders pattern holds important information as it depicts a rise once the price goes beyond the resistance level. Therefore, investors can use this pattern to anticipate a bullish reversal and benefit from the predicted 27% rise in Ethereum's price.
Connor Jimenez
- 2023-04-06
A Bullish Trigger - Ethereum Awaits Shapella Upgrade
Ethereum market awaits the April 12 roll out of the Shapella upgrade, forecasted to be a bullish trigger. Ethereum price surged 20% from the Order Block Level and expected to rise by 27% by 20 May 2023, as per the investor anticipation with the Inverted Head and Shoulders trend.
