Ethereum Price Breakout Potential: $4,200 Target on Broader Wedge?

Technical analysts are predicting a significant price surge for Ethereum (ETH), potentially reaching $4,200. This prediction is fueled by the emergence of a broadening wedge pattern on weekly charts. The pattern indicates potential breakout opportunities and could be further validated if ETH breaks above resistance near $3,000. A key factor behind this bullish sentiment is the massive influx of institutional investment into Ethereum ETFs, which surpassed Bitcoin ETF inflows.