Hi dear treaders
ETH has formed a descending wedge pattern. We have to wait for the pattern to be approved. If the price is confirmed, it will rise. The first resistance is 2888$ The next resistance are 3000$ and 3105$. The main target is the 3200$ resistance. In case of return, the first support areas are 2763$ and 2650$. The price is still in the downtrend channel, so the confirmation of the pattern is accompanied by the failure of the channel ceiling. The price is moving below the MA20 and the Bollinger Bands have been squeezed and the possibility of the price coming out of one side at any moment is high, so we have to wait for the confirmation or breakout of the pattern.
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Good luck.
ETH has formed a descending wedge pattern. We have to wait for the pattern to be approved. If the price is confirmed, it will rise. The first resistance is 2888$ The next resistance are 3000$ and 3105$. The main target is the 3200$ resistance. In case of return, the first support areas are 2763$ and 2650$. The price is still in the downtrend channel, so the confirmation of the pattern is accompanied by the failure of the channel ceiling. The price is moving below the MA20 and the Bollinger Bands have been squeezed and the possibility of the price coming out of one side at any moment is high, so we have to wait for the confirmation or breakout of the pattern.
If you like my idea please click the * 👍 * button and comment your idea.
Good luck.