Ethereum Breaks Out From 5-Month Descending Wedge, Surging Towards New All-Time Highs

Ethereum has officially broken free from a five-month descending broadening wedge pattern, marking a significant bullish breakout. This surge has seen the altcoin skyrocket over 20% in just 24 hours and surpass $2,200, driven by massive buying pressure from both whales and institutional investors. Market analysis indicates that the RSI and Stoch are signaling overbought conditions, but momentum remains strong despite this potential for short-term volatility. This break signals a turning point for Ethereum after months of range-bound movement, propelling the entire altcoin market out of its hibernation period.