Home Ethereum is done with the downside – time to surge on: Twitter analyst CryptoWolf predicts
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Ethereum is done with the downside – time to surge on: Twitter analyst CryptoWolf predicts

FX Street
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  • CryptoWolf suggests that Ethereum’s break out of the seven months falling wedge pattern is a bullish scenario.
  • Ethereum completes the Istanbul upgrade allowing for interoperability with Zcash.

The Ethereum network recently completed the Istanbul network upgrade. The upgrade was the eighth following other upgrades such as Spurious Dragon and Constantinople. Some of the upgrades brought to the network by Istanbul are Ethereum and Zcash interoperability and allowing contracts to introduce more creative functions.

Meanwhile, Ethereum is trading at $149.45. The support discussed earlier at $150 gave in allowing for a shallow downside correction. The current technical picture is static and suggests that sideways trading will take center stage.

Read more:  Ethereum market update: ETH/USD held above $145 as recovery stalls in the $150’s range

Ethereum price prediction

A popular cryptocurrency trader and analyst, CryptoWolf says that Ethereum has completed its share of the downtrend and is ready to reverse the trend. In other words, the seven months falling wedge correction is over and the resistance is already out of the way.

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