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Ethereum Enters Expansion Phase After Completing ‘Power of Three’ Pattern
- Ethereum's price action has completed the 'Power of Three' (Po3) pattern's phases: accumulation, manipulation, and distribution.
- A chart shared on June 24 showcased Ethereum's consolidation, a false breakdown, and a subsequent upward move signaling the expansion phase.
- Merlijn suggests that Ethereum has finished the manipulation phase and is now poised for a bullish breakout during the expansion phase.
- A potential price surge could target Ethereum above $3,500 if the Po3 structure plays out entirely, indicating a significant rally.
- Entering the expansion phase could indicate renewed strength in the altcoin market, supported by increased volume and declining Bitcoin dominance.
- Ethereum's recent price movement, following the Po3 pattern, could signify a manipulation event to shake out weaker hands, with a focus on sustaining upward momentum for new highs.
- The expansion phase potentially starting signals possible positive price movement for Ethereum.
- Merlijn's analysis points to a bullish breakout for Ethereum in the coming days.
- Ethereum's price action aligning with the Po3 setup suggests a manipulation event before the expansion phase.
- The focus is now on Ethereum's ability to maintain its upward momentum.
- The completion of the Po3 pattern may lead to new local highs in Ethereum's price.
- The analysis hints at Ethereum's potential for a strong upward trend, supported by the completion of the Power of Three pattern.
- Ethereum's price movement following the Po3 pattern may have been a tactic to shake out weak investors.
- The expansion phase's onset could indicate a bullish breakout for Ethereum in the near future.
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