EthereumLong
ETHUSD - LITTLE BIT MORE BEFORE HALVING DROP
Updated
Please refrain from pursuing this idea; it's only being documented for reference purposes.
Observation: There appears to be a bullish flag and rectangle pattern, with a partial convergence of prices. There might be a potential divergence on the Relative Strength Index (RSI) accompanied by declining volume, possibly due to the "weekend" effect. Lots of bullish news.
If volume increases this week, there's a likelihood of a further upward movement. Additionally, with the implementation of Layer 2 scaling solutions on March 13 and reduced fees, positive news could propel ETH prices higher.
Be aware, of possible price drop if halving historic trends of BTC lead ETH down a similar path. It's advisable to reassess the situation based on the volume and price action observed on Monday and Tuesday.
Observation: There appears to be a bullish flag and rectangle pattern, with a partial convergence of prices. There might be a potential divergence on the Relative Strength Index (RSI) accompanied by declining volume, possibly due to the "weekend" effect. Lots of bullish news.
If volume increases this week, there's a likelihood of a further upward movement. Additionally, with the implementation of Layer 2 scaling solutions on March 13 and reduced fees, positive news could propel ETH prices higher.
Be aware, of possible price drop if halving historic trends of BTC lead ETH down a similar path. It's advisable to reassess the situation based on the volume and price action observed on Monday and Tuesday.
Trade closed: target reached
entry: 50% 2506.00 / 50% 2551.84exit: 100% 2597.93
reentry condition if the 2600 S/R holds on hourly.
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