The Ethereum coursehas formed a falling wedge over the past few days and weeks. Yesterday, May 23, 2022, there was a fake breakout and the price was able to leave the wedge for a short time. But now the price is again below the upper trend line and is even finding resistance there. Based on this, we next expect the price to drop to the GoldenPocket plotted. This would completely correct out the recent rise making a test of this GoldenPocket quite likely. After testing the GoldenPocket, the Ethereum price could break out of the wedge in a bullish manner. The probability of the Ethereum price breaking out of the formation in a bullish manner is around 70%, which is quite high. Wedges are one of the most popular formations. Just like bull and bear flags,
If the Ethereum price breaks out bullishly, which we expect, we expect a rise to at least $2,180. That's where the goal of the formation is. However, if the price increases to $2,180, the price could go straight up to $2,300 – $2,500 as there is no resistance before this resistance zone ($2,300 – $2,500). Because of this, we also expect the Ethereum price to rise to around $2,300 – $2,500 in the next few weeks.
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