Ether Prepares for 40% Rally as It Remains Above 200-Day EMA

Since falling below $2,450 on October 2, Ether (ETH) has consolidated within a narrow $100 range over the past nine days. While Bitcoin has shown more volatility, Ether’s weekly performance has seen only a 1% decline. On the weekly chart, Ethereum has maintained a bullish stance by staying above the 200-day EMA trendline, signaling potential strength. Now, several bullish indicators have emerged for Ethereum, suggesting that a positive breakout for the ETH/USD trading pair could be on the horizon. Last month, Cointelegraph reported that Ethereum’s price action was forming a market fractal similar to patterns seen from May to June