ETHUSD appears to be breaking out of a 1 day rising channel
Of course there's always a chance the follow up 1 day candle here could find a way to dump all the way back down to retest the top trendline of this channel...could even go back below it and it would still remain resistance at that point...however the sheer size of the current green candle seems to suggest that probability is high that the trendline will be flipped to support...there's also a chance that eth continues to fly from here and doesn't even come back to retest the trendline at all. Hard to say, but eth currently is looking very very bullish here. If eth were to continue to moon here and/or temporarily dip to retest the top trendline of the rising wedge as solidified support...then odds are good ethereum will be going absolutely parabolic here.
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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.