watat83

ETHUSD: Downtrend Triangle (Market Consolid) Before Uptrend 500?

COINBASE:ETHUSD   Ethereum / U.S. Dollar
BITTREX:ETHUSD             is most definitely trending downward. The bearish signal, given by the descending triangle , suggests just that. This should be regarded as a market consolidation given the recent hype around the historic 10k mark achieved by COINBASE:BTCUSD             that drove the entire crypto world nuts, including ETH. But this was expected.

The descending triangle is constructed with a flat support line @ $433.36 (Green Horizontal Line or consolidation line) and a downward-sloping resistance line (See the descending red line).

If the price drops under that support line, then the new support line should be placed @ $412.10 (Blue line).
it is just a matter of time before BITTREX:ETHUSD             hits $500 again, based on my R&D.

Entry Point $462.26.
Stop Loss $406.
Target Profit $500.

Smart Trading!
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