Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this quick ETH update.
ETH is forming a big symmetrical triangle in the daily time frame and rejecting the upper resistance line. Currently, it is trading around the $1600 level. So we have two possible scenario's from here.
First, a possible scenario is to get a bounce from the green support zone ($1420-$1500 range)
The second possible scenario is if we break below the $1420 level then there are high chances that we revisit the lower trendline of the triangle ($1200 level)
So for a bullish momentum in ETH, we need to break and hold above the symmetrical triangle.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this quick ETH update.
ETH is forming a big symmetrical triangle in the daily time frame and rejecting the upper resistance line. Currently, it is trading around the $1600 level. So we have two possible scenario's from here.
First, a possible scenario is to get a bounce from the green support zone ($1420-$1500 range)
The second possible scenario is if we break below the $1420 level then there are high chances that we revisit the lower trendline of the triangle ($1200 level)
So for a bullish momentum in ETH, we need to break and hold above the symmetrical triangle.
What do you think about this?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
