With the bullish pennant that is formed, coupled with the 4hr MACD about to crossover to name just a few indicators of imminent upside breakout I think this is not based on any sound technicals.
n0xTrader
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@SuperShibe, Ok, 4h. Loop at 6h or 12h MACD. It went up anyways. With such triangle and overbought at 1d-1w - it's just guess and gambling.
n0xTrader
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As far i see someone were protecting ETH from slipping down with over 40eth supporting bids with wall. Without that eth would have broke down instantly, however it seems he is running out of money to artificially support .