For those of you who followed my last ETH chart
you saw we broke out of our short term triangle and got a nice bump.
Well good news! There's a long term ascending triangle as well. And as long as we stay within it then things are looking pretty bullish. I'm guessing we see 400 by mid February at the latest, but possibly sooner (crypto usually moves faster than I expect).
I've mapped out the support and resistance lines for you. Those within 5 dollars of each other should be taken as a range (there's not enough historical data on the 1d chart to say definitively).
Tests will be at 335, 338, and 350. If we beat those then we're off to challenge the ATH and 400.
This may not be the kind of meteoric rise you see from BCH etc. But personally I don't mind making 30+% in three months. I'll take the stable path upward over the crazy swings any day.
All this comes with a caveat though: If we break lower out of the triangle and hold there then recovery into this pattern will be difficult and all price projections are off.
Well good news! There's a long term ascending triangle as well. And as long as we stay within it then things are looking pretty bullish. I'm guessing we see 400 by mid February at the latest, but possibly sooner (crypto usually moves faster than I expect).
I've mapped out the support and resistance lines for you. Those within 5 dollars of each other should be taken as a range (there's not enough historical data on the 1d chart to say definitively).
Tests will be at 335, 338, and 350. If we beat those then we're off to challenge the ATH and 400.
This may not be the kind of meteoric rise you see from BCH etc. But personally I don't mind making 30+% in three months. I'll take the stable path upward over the crazy swings any day.
All this comes with a caveat though: If we break lower out of the triangle and hold there then recovery into this pattern will be difficult and all price projections are off.
Comment:
We broke above $335. If we can break and hold above $338 then we should see some price action move toward $350.
Comment:
Tested $338 for a few and fell back down. Good news is that since we're getting consolidation in the 335-338 range once we do break 338 it's more likely to become a decent support.
Comment:
Breaking out 338, is 350 coming?
Comment:
350 Obtained less than 12 hours later. If we break 390 there's a good chance we can surpass our ATH and go for a bluesky breakout. I don't think it'll be a direct path there though, probably a few dips before then. But it certainly looks promising for now.