EthereumUpdated ETHUSD looking to break out of Descending Wedge.
ETH found support on our pink dotted trendline which seems to be pushing the price towards our main downtrend resistance line (top blue dotted trendline). We are near the end of our consolidation, will we breakout to the upside or fall back down within our descending wedge?
EMA's'(yellow/purple) looking for a bullish crossover on the Daily.
I have supports highlighted in green rectangles and resistance highlighted in red rectangles.
If we do break out of our descending wedge, I would like to see ETH break the 200 SMA (red) resistance to get me better assurance for a trend change.
EMA's'(yellow/purple) looking for a bullish crossover on the Daily.
I have supports highlighted in green rectangles and resistance highlighted in red rectangles.
If we do break out of our descending wedge, I would like to see ETH break the 200 SMA (red) resistance to get me better assurance for a trend change.
Note
Note
After some downside action towards our support area, we got a bounce from our Support. We broke out of our wedge, but will we hold? or go to test 200$
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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.