The lines are drawn through price pivot points. The graph started during the bear market. Following the August ETH upgrade, the protocol called for ETH to be burned on transactions, leading to a shortage of supply. Lower supply will, in general, inflate prices on the supply/demand model.
The lines show breaking point patterns and they reset. The endpoints show a patterned price range of around $3500 within a week
The lines show breaking point patterns and they reset. The endpoints show a patterned price range of around $3500 within a week