Ethereum / TetherUSShort
Is ETH creating a continuation triangle
ETH appears to be forming an ending descending channel with a triangle formation within the parallel centerline and confirmed by RSI. Looks a bit too good to be true symmetry wise but rejection here at RSI midzone (control) and the pattern would do really well to trap many as the next legs of the triangle are a higher low followed by lower low into crash. The 700 area has been a hopium area for buys also during this bear market where everyone wishes to 'load up'. Some fud has entered the space regarding staking getting banned in the US so tokens that are heavily staked may experience volatility.
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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.