Ethereum price over the last couple of years has outperformed even Bitcoin’s, making it the most bullish cryptocurrency among the top three assets. But a fractal brewing in the <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin could make for an incredibly bearish outcome if history repeats.
Here’s a closer look at the bearish cryptocurrency chart fractal potentially warning of a reversal, and the before and after you’ve got to see to believe.
Ethereum Fractal Says The Bull Market Is Finished For The Top <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>Altcoin
Ethereum price has long been soaring right alongside Bitcoin, but since tapping above $2,000 per Ether token, the top ranked altcoins has been struggling with resistance since.
Related Reading | Ethereum Bullish Retest Offers “Once-In-A-Lifetime Opportunity”
Crypto analyst are torn whether the price action is bullish or bearish. One theory claims that the recent retest of the <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin’s former all-time high presents a “once-in-a-life-time opportunity” for those who missed out on the initial rally.
Other analysts aren’t so sure. One crypto trader in particular has discovered a fractal in Ethereum price action, that closely resembles a more extended version of the 2017 bull market breakout.
The 2019 and 2020 price action is an extended fractal of the last bull run breakout | Source: ETHUSD on TradingView.com
The price action preceding the 2021 breakout closely resembles that of the price action during 2019 and 2020 that caused the cryptocurrency to soar to current prices. It’s what comes next, however, that must be seen to be believed.
Are Fractals Something To Fear, Or Do They Fail More Than They Follow Through?
All crypto bull rallies eventually