ETHEREUM, Massive Formation With Huge Breakout Potential!

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#ETH update

ETH is trading inside this descending channel for over a year and now we are making this reversal pattern falling wedge pattern.

We need a breakout of 1350k level then we can open a long


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Comment:

In the shorter time frame, ETH is making this bearish pennant pattern we can open a short position after the breakout.
Right now, the price of Ethereum faces resistance near $1200 and the 50-day simple moving average. The first major resistance is near the $1230 level bulls need to break out of this pattern to invalided this pattern.

Comment:

If we see in the three-day timeframe we are at strong support.
In the case of a breakout of the wedge, will trigger a strong recovery.


Bearish is possibility

If BTC isn’t able to break above that $1200 resistance, the new bearish wave could begin toward $1020.