ETHUSDT: Flood gates about to open ($500 top target)
We have a local triangle in an uptrend which is - as per classic Technical Analysis - a continuation pattern.
Since this triangle is supported by a steady RSI uptrend and oversold conditions on the Stoch RSI, I believe that ETH will be able to develop enough momentum and crush through the resistance at $251.
As soon as a breakout from that triangle is confirmed (which would also mean it broke said resistance) I will go for 2 long positions: $320 and $500).
In the case of an invalidated outbreak, I will be looking at trading the channel between $164 and $250.
Since this triangle is supported by a steady RSI uptrend and oversold conditions on the Stoch RSI, I believe that ETH will be able to develop enough momentum and crush through the resistance at $251.
As soon as a breakout from that triangle is confirmed (which would also mean it broke said resistance) I will go for 2 long positions: $320 and $500).
In the case of an invalidated outbreak, I will be looking at trading the channel between $164 and $250.