ETH Trapped In A Trading Range
Updated
Here's an analysis on ETH/USDT on a 4-hour Time-Frame, after the previous update (refer to the chart below) :
As the London Fork Upgrade was successfully deployed, the price ascended quite beautifully after the formation of the "BIG W". As BTC is facing difficulty in breaking the 50k level and is itself moving in a trading range for the past few days. The same price action can be seen on the chart of ETH.
It is ranging b/w the Top Range (3.4k - 3.3k) and the Bottom Range (3.05k - 2.95k). The longer it migrates in this range the stronger will be the breakout to either of the sides. However, we can witness some false or premature breakouts neither of which is predictive of the eventual breakout direction. Keep a close eye on the price development and make positions accordingly. DYOR
CryptoCuriousOfficial 📥
As the London Fork Upgrade was successfully deployed, the price ascended quite beautifully after the formation of the "BIG W". As BTC is facing difficulty in breaking the 50k level and is itself moving in a trading range for the past few days. The same price action can be seen on the chart of ETH.
It is ranging b/w the Top Range (3.4k - 3.3k) and the Bottom Range (3.05k - 2.95k). The longer it migrates in this range the stronger will be the breakout to either of the sides. However, we can witness some false or premature breakouts neither of which is predictive of the eventual breakout direction. Keep a close eye on the price development and make positions accordingly. DYOR
CryptoCuriousOfficial 📥
Note
BROKE the Trading Range 🚀
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