ETH:EUR wedge breakout?

Looks like ETH might be breaking out of the massive wedge it had been oscillating within for months! If this happens, it opens up growth up to 520,-! Although growth to the 350 height would already be a nice start ;) Let's first see if ETH actually manages a breakout.

Note

ETH is struggling with the top of that descending channel. No proper breakout yet, but such resistance is to be expected. It could turn ETH back down to anywhere in the 284-292 range. Either instead or after ETH could still make another push to break out.

Note

Hang in there ETH!

Note

An upward channel is forming, potentially taking ETH out of the wedge pattern.

Note

ETH moved nicely out of that 247-265 range, so that's great! But I'm still not convinced it has broken out of the wedge. I've adjusted the lines a bit and it seems to me ETH us currently struggling to break out. But there is no proper volume supporting it yet. Although that might come in once a breakout takes place. I'd think it will have to break past 316 for this to happen.

Note

breakout occurred! Currently fighting the 330 resistance from a former height. After that it will find resistance at 350. After that is where the fun begins! ^_^

stuff

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

stuff