ETH: Ascending Triangle
Ethereum (ETH) technical analysis:
Trade setup: Trading in an Ascending Triangle, which typically breaks in a bullish direction (above resistance trendline of $1,250) and could result in a move to $1,500 thereafter. Wait for a breakout above $1,250 key level.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1,250, then $1,000. The nearest Resistance Zone is $1,500 then $1,700.
Trade setup: Trading in an Ascending Triangle, which typically breaks in a bullish direction (above resistance trendline of $1,250) and could result in a move to $1,500 thereafter. Wait for a breakout above $1,250 key level.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1,250, then $1,000. The nearest Resistance Zone is $1,500 then $1,700.
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