Ethereum on Brink of Parabolic Move According to Technical Analysis

A technical analysis of Ethereum's chart suggests that the asset is on the verge of a parabolic move, potentially breaking above $12,000 and beyond.

The golden triangle formation has been observed since 2017, with repeated bounces within the narrowing range. This macro structure indicates a better possibility of resolving to the upside.

Analyst Crypto Feras has identified an immediate target for Ethereum's price, predicting that it will reach $2,800 as the first significant milestone of any sustained recovery.