Long

Lingrid | ETHUSDT potential Channel BREAKOUT. Long

has been in a consolidation phase since the beginning of this month, by forming higher lows, which suggests buying pressure. On the weekly timeframe, the formation of a double bottom is a strong indication of a potential reversal. While I believe the market may consolidate a bit more before start of the bullish trend, it’s also likely to establish a range zone below the channel border before breaking out. If the market breaks and closes above the previous week high we can expect further upward momentum. My target is resistance zone around 2597.00

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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