16% Ethereum price rebound activates a classic bullish pattern — $2.5K next? By Cointelegraph

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16% Ethereum price rebound activates a classic bullish pattern — $2.5K next?

‘s native crypto Ether (ETH) rebounded sharply on Thursday after Elon Musk disclosed for the first time that his private rocket firm SpaceX holds (BTC), and Tesla (NASDAQ:) would probably resuming the bitcoin payment option for its electric cars.

The exchange rate was below $30,000 but bounced by more than 5% after the big reveal, touching an intraday high of $32,895. Ether, which tends to move in lockstep with the flagship cryptocurrency, surged likewise.

Ether was holding onto its previous session’s gains on Thursday. Source: TradingView.com
Ether falling wedge setup highlighted by Rekt Capital. Source: TradingView.com
ETH falling wedge setup on its daily chart. Source: TradingView.com