The post Raoul Pal Calls Ethereum’s Chart Pattern ‘One Of The Most Powerful In Crypto’, Signaling Major Breakout Coming ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp The price of Ethereum (ETH), the industry’s second-largest cryptocurrency by market cap, broke down as the wider market corrected, but a well-known pundit remains optimistic about Ether’s price trajectory leading into 2025. According to macro investor and Real Vision CEO Raoul Pal, Ether could be on track to a significant price breakout in the near term. Pal’s recent comments suggest he expects further upside for the smart contract platform as the market structure clearly indicates bullish momentum and strength. Ether Stunning Rally Ahead After Recent Bullish Chart Development In a December 26 strategy session on YouTube, Raoul Pal noted that Ethereum’s weekly chart shows a bullish wedge pattern, setting the top altcoin for further upside. Ether is primed to explode higher once the bullish breakout is confirmed, Pal indicated.  “So whether we break out this month, which is my hunch, and then maybe retest in the January pullback from liquidity, or we pull back here for a bit and then explode through afterward, either way, that chart, that wedge pattern, to me, is one of the most powerful patterns in all of crypto and suggests we’ve got a very big move in Ethereum to come.” The crypto OG went on to observe that the ETH/BTC pair is also exhibiting a bullish wedge pattern on its weekly chart. Advertisement &nbsp “It’s another wedge. This is the ETH/Bitcoin weekly cross. Look at the big picture. ETH basically is at the same level versus Bitcoin that it was in 2017. It has held value over time, which is very important. It shows that this thing is around and it’s here to stay.” Ether To Outperform Bitcoin? Raoul Pal is also convinced that ETH/BTC could skyrocket based on the ISM Manufacturing Index, which is considered an indicator of the U.S. economy’s…

---

Filed under: News - @ December 27, 2024 5:24 pm