Real Vision CEO Raoul Pal Bullish on Ethereum as ETH Prints New Pattern
Raoul Pal, the CEO of Real Vision, believes that Ethereum (ETH) is showing bullish signs as it remains above the $2,000 level. In his analysis, Pal highlights that Ethereum’s price action is displaying bullish patterns.
Pal points out that Ethereum’s market structure is closely following increasing market liquidity, making it a strong contender in terms of liquidity plays.
Potential Bullish Cup-and-Handle Pattern
According to Pal, Ethereum is potentially forming a bullish cup-and-handle pattern after completing a bullish flag pattern. A close above $2,150 would be a positive sign for Ethereum.
Long-Term Bullish Outlook
Pal also expresses long-term bullishness on Ethereum, noting that it has already broken out of a wedge pattern at the $2,087 level on the weekly chart.
Current Ethereum Price
At the time of writing, Ethereum is trading at $2,023, experiencing a 2.1% decrease in the last 24 hours.
Hot Take: Ethereum’s Bullish Momentum Continues
Raoul Pal’s analysis suggests that Ethereum is displaying bullish patterns and has strong potential for further gains. With its market structure mirroring increasing liquidity, Ethereum is seen as a pure play on liquidity. The formation of a potential bullish cup-and-handle pattern and the breakout from a wedge pattern on the weekly chart indicate a positive outlook for Ethereum. As long as Ethereum remains above the $2,000 level and closes above $2,150, the momentum is expected to remain bullish.
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