A rising wedge formation on the ETH/USDT pair is a technical chart pattern that typically indicates a bearish reversal in price movement. It is characterized by a series of higher highs and higher lows that form a narrowing wedge shape. Traders typically look for a breakdown below the lower trendline as a signal to sell, as it suggests that the uptrend has lost momentum and that the price is likely to continue lower. It's worth noting that not all rising wedges lead to a bearish reversal, but it's a common pattern that traders keep an eye on.