The 3day chart for ethusd can help us to see the bigger picture.
Price has left the downtrend channel and established a base with resistance around 160$ which was broken and is now retested.
If the 160 level holds and forms a swing low we can be more confident and it should act as a launch pad. Otherwise it will look rekt again and should at least go to the red trendline.
Price has left the downtrend channel and established a base with resistance around 160$ which was broken and is now retested.
If the 160 level holds and forms a swing low we can be more confident and it should act as a launch pad. Otherwise it will look rekt again and should at least go to the red trendline.
Note
looking good. volume is declining during the consolidation. support holding.Note
Support was tested again and holding.It's about time for the next leg.
Note
three possible targets- 211$ apex of old sym triangle
- 289$ halfway breakout and old apex of smaller triangle
- 360$ old major support
Note
hit target 1Trade closed: target reached
booked profits on leveraged positions, keeping spot
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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.