Hello, traders! We are all about to see the grand update of Ethereum. Many of us are desiring of it, others are afraid of their short positions. And I would say that the fear is true cause it is really expected that ETHUSDT will pump, the bear market continue, though. However, let’s have a look on this coin from the technical side.
As you can see, the shiff pitchfork that’s based on the past price action is respected actively and we have an ascending channel, even though the price also has built a triangle. Look at it, top side was tested so many times that the likelihood of breaking it above is really high. So, we see two possible scenarios of the price action. Spoiler: everything depends on the date of release.
Scenario A The price will retest the upper side of triangle again and break it up. Then, the Fib 0.236 level, enter the median Chanel with the goal of breaking 0 Fib level.
Scenario B The price will respect to triangle for about a month, going down to 0.5 Fib, breaking 0.382. However, the update couldn’t be ignored and the price will anyway go up.
So, guys, in my opinion we will see something great, something changing the game rules. If it will work fine, in some years Ethereum will gain a big amount of investments and will be an alternative of BTC.
Well, I really happy to share my thoughts with you. However, don’t forget making your own forecasts to become smarter and richer.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
@farshicl, it could hardly be possible. The interest to the coin both from ordinary traders and professional companies like GrayScale is too strong to allow this coin to be dumped.
Triangle_Traders
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So Falling Wedge is Bullish we all agree on that. The sooner we breakout the better right :)