ETH appears to be showing signs of weakness, with the possibility of a minor rally before a potential significant drop from its current rising wedge formation. Similar to the pattern seen with LUNA Classic, I had accurately forecasted the decline of Luna when it was trading at around $80. While the extent of Luna's fall surpassed my expectations, the downward movement still materialized.
Considering the lack of momentum and the risky nature of the ongoing rising wedge formation, I believe that ETH is currently overvalued given its status as a centralized, slow, and costly blockchain platform. In my view, ETH...