Hello Fellow Crypto Traders, Here's a Technical Analysis of Ethereum!
ETHUSDT has moved the bullish trendline and EMA200, indicating a positive trend. Subsequently, the price has formed a falling wedge pattern, followed by a breakout of the upper trendline. This breakout suggests the possibility of an upward movement. This possibility is further supported by the formation of a golden cross on the MACD indicator, indicating a likely upward movement toward the target area.
Upon reaching the first target/resistance level, a potential correction scenario may occur, leading the price to retest the historical resistance area or the blue zone before advancing toward the second target.
It is important to note that the roadmap will no longer be valid once the target/support area is reached.
Feel free to support the channel by clicking the rocket button and sharing your opinions in the comments below!
"Disclaimer: This analysis is intended solely for educational purposes and does not constitute a recommendation to take a long or short position on BINANCE:ETHUSDT ."
Trade active
⋅
Impulsive breakout on ETH
Comment
⋅
Confirmation of the breakout, sign of bullish continuation ahead.
Comment
⋅
creating a base formation on the H4 timeframe, and it is worth noting that the price remains above the red line, which indicates bullish momentum.
Comment
⋅
Breakout of Descending Broadening Wedge on the H4 Timeframe with a retest on the upper trendline indicates a potential bull run :D
Comment
⋅
Well, Another Impulive Breakout of the latest resistance area, strong indication of bullish momentum
It was one of the best analyzes I have seen in a while
financialfreedomgoals101
⋅
@behdark, thank you for the compliment but sadly I found the overall market wasn't going anywhere these days. I didn't find much opportunity in this current condition.