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Ethereum
Short

ETH/USD - ASCENDING WEDGE | POTENTIAL SHORT-TERM CORRECTION?

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  • The crypto market has undergone a vast surge in prices with no clear indication of its limit
  • However, Ethereum has clearly been respecting an ascending wedge on the higher timeframe
  • As a result, price with respect to the wedge will be observed and, upon break, a downside target has been identified, namely the 61.8 fibonacci
  • Calling the tops and bottoms are very difficult tasks however the respect of the ascending wedge is too strong to ignore so will therefore be used as a strong indication of future price action here
JayanVarsani
Also on:
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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.
Bitcoin (Cryptocurrency)BTCChart PatternscryptoCryptocurrencydollarETHEthereum (Cryptocurrency)Technical IndicatorsrippleTrend AnalysisUSD
JayanVarsani
Also on:

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.