ETH inside triangle
Updated
ETH/USDT
ETH is inside sideways move that shaped triangle.
🐻 break down from lower zone of this triangle can cause continuation of correction toward support zone between 0.382 and 0.5 fob levels that is the same with descending trend line.
🐮 in other hand if bulls success to hold the lower line of triangle and break out from upper line price will jump and make another higher high around $1800.
ETH is inside sideways move that shaped triangle.🐻 break down from lower zone of this triangle can cause continuation of correction toward support zone between 0.382 and 0.5 fob levels that is the same with descending trend line.
🐮 in other hand if bulls success to hold the lower line of triangle and break out from upper line price will jump and make another higher high around $1800.
Trade closed: target reached
Trade closed: target reached
#ETH/USDTETH touched the support zone as expected in my last analysis and rejected touching the broken ascending trend zone, which is the same as the long-term resistance zone.🐻 so if it would be just a pullback move to confirm the support as resistance, then price may drop from this zone and break below the support zone.
🐮 but if price breaks out from resistance zone we can expect another leg up toward $2000.
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.