After a very ullish run on the ETHBTC pair from 2019 - 2021, ETH has spent nearly the last 3 years consolidating into a falling wedge pattern. This has formed an even bigger Bullish pennant pattern. With a breakout of the falling wedge we'd have about a 13-% gain to the upside.
Locally, price has formed a triple bottom, and formed a Fakeout from the low of the falling wedge. Price has responded with a strong reaction to the upside. With the BTC halving just being finished and the ETH ETF on the way, it is about time for ETH to make its run.