Ether price paints a “rising wedge”
The first among these indicators is a “rising wedge,” a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices.
Theoretically, a rising wedge resolves after the price breaks below its lower trendline and eyes a run-down toward the level at length equal to the maximum height between the wedge’s upper and lower trendline
Ether has been forming a rising wedge since mid-June, as shown in the chart below.
ETH/USD four-hour price chart featuring ‘rising wedge’ setup. Source: TradingView
Hence, its interim bias appears to the downside, with a decisive breakdown below the lower trendline risking a decline toward the