Ether’s price metrics have replicated 3 key bullish actions which resulted in a 120% rally in Q1 2024. Will it happen again?
Ether (ETH) recorded its largest three-day return of 2024, with a 21% spike after President-elect Donald Trump was announced as winner of the US presidential election. The rally also took the altcoin above its overhead resistance of $2,800, breaking a trend bottom consolidation range that lasted 96 days.
Ethereum 3-day chart. Source: TradingView
With the crypto community anticipating a new bullish leg, Ether has flashed a strong buy signal based on a historical setup from 2023.
