Anticipation of potential Ether ETF approvals in June is pivotal in driving ETH's price above $4,000, with whales accumulating and rising holding sentiment furthering the bullish outlook.
Ethereum's native token, Ether (ETH), has rallied by circa 67% so far in 2024 and may continue its upside moves in June, per a mix of on-chain, fundamental, and technical indicators.
As of June 1, Ether had entered the breakout stage of its prevailing falling wedge pattern.
A falling wedge is a bullish reversal pattern characterized by two descending, converging trendlines. As a rule of technical analysis, this pattern resolves when the price breaks above the upper trendline and rises by as much as the wedge's maximum height.
