ETHUSD has been showing a swell in the last few days. The price is out of the key range. The bullish set-up is working 100% and price is breaking resistance. What to expect from ethereum next?
For a long time, the coin formed a wedge pattern, which ended with the price forming a rally after a false break of global trend support and the SMA-200 and breaking not only the wedge resistance, but the trend line and the 1846.5 level.
A consolidation above this support area will consolidate the bulls' position and continue to shape the move.
Within the price channel, we have an implied target - the resistance area of 2300. Most likely, in the medium term, we should expect growth towards this mark.
Support levels: rising support line, previously broken wedge boundary, 1846.5 level
Resistance levels: 1920, 2021
Consolidation lasted about 45 days, the distributive phase after consolidation may last for 15 days. I expect that in the mid-term we might see a breakthrough of the local resistances and strengthening of the price to 2300
Regards to R. Linda!
Note
After the breakout, a consolidation above support is formed.
Note
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
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.
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
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.