Gold fractal boosts Ethereum price potential to hit $6K
A multi-year gold fractal indicates that Ethereum prices could rally toward $6,000 in the coming months. Both Ethereum and gold are displaying a similar five-point accumulation structure, having experienced two local tops and deep pullbacks. Gold successfully completed this pattern with a breakout above $2,100, leading to a 60% surge. Currently, Ethereum is bouncing from its point 4 low near $1,600 and nearing resistance around $3,000–$3,500. Further reinforcing this bullish outlook is Ethereum's resemblance to its 2016-2017 fractal, which consisted of a consolidation phase, a sharp shakeout, and a subsequent breakout that culminated in a price surge exceeding 1,000%. Analysts suggest that if the current candle pattern follows suit, Ethereum could reach the $5,000–$6,000 range in the coming months. Additionally, fading interest in Solana and increasing institutional inflows of $321.4 million, the largest among crypto assets, are enhancing Ethereum’s fundamental strength. The article emphasizes the importance of conducting individual research before making investment decisions.
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