Long

ETH/USD approaching asc tri, breakout to $580

Updated

Ethereum looks close to breaking out of its long-running ascending triangle pattern. Taking the high and low at the start of the trend we can fib out to $580 as a reasonable target. This is invalidated if price breaks out south below the support line.

Note

We are clear through the 0.786 fib ($352) zone of resistance. Next resistance to watch for is the zone. Expect volume to explode if daily closes above $400.

Note

New ATH reached, $400 resistance being tested!

Note

$400 resistance broken. Conservative target now is $580.

Note

As expected, $400 was strong resistance now turned strong support. Any buy at around $400 or below is a great entry here.

Trade closed: target reached

Nailed it! $580 target reached on the dot.

dukeofdolma

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