ETHEREUM - ASCENDING TRIANGLE FORMATION | 61.8 FIBONACCI / 100MA
Analysis
Conclusion: Price about to potentially break out of an ascending triangle. Short term target as the 61.8% fibonacci at ~$3400, mid-term target at close to the ATH at ~$4200
2017 Fractal
- Inverse head and shoulders pattern invalidated and now seeking an ascending triangle breakout
- 100MA serving as resistance turned support on the 4H chart
- Breakout targeting the 61.8% fibonacci resistance at ~$3400 before retesting the resistance turned support
- Targeting a multi-week ascending triangle on the macro time-frame, akin to 2017 (see post linked below)
Conclusion: Price about to potentially break out of an ascending triangle. Short term target as the 61.8% fibonacci at ~$3400, mid-term target at close to the ATH at ~$4200
2017 Fractal
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