Hello all and good evening.
Measured move would bring ETH back to the $240 range. One thing to note in this pattern is the rising demand and volume that has come at the apex of this wedge. Normally we would see the volume declining at the apex, especially buying pressure. In this case the pattern attempted to break down but failed thus far. Currently above the 0.382 however under the 200D EMA. RSI is in bullish territory.
Not trade advice.
Measured move would bring ETH back to the $240 range. One thing to note in this pattern is the rising demand and volume that has come at the apex of this wedge. Normally we would see the volume declining at the apex, especially buying pressure. In this case the pattern attempted to break down but failed thus far. Currently above the 0.382 however under the 200D EMA. RSI is in bullish territory.
Not trade advice.