LegionQ8

Ethereum can make correction and then continue rise in wedge

Long
BINANCE:ETHUSDT   Ethereum / TetherUS
Hello traders, I want share with you my opinion about Ethereum.Observing the chart, we can see that the price some time ago started to rise in an upward channel, where it soon reached the 2900 support level, which coincided with the support area and broke this level. After this, ETH some time traded near this level and then rebounded up to the resistance line from the support line of the channel, but later price at once rebounded from the resistance line and little declined below. Then ETH continued to move up in an upward channel to the next level, which coincided with one more support area. But when the price reached this level, it at once rebounded and declined to 3200 points, thereby exiting from the upward channel, and entering to upward wedge. Then price at once bounced from the support line and made impulse up to the support area, breaking the 3790 level. After this, ETH some time traded in this area and later rebounded up, but soon price made a correction to support line of wedge. A not long time ago price rebounded from this line and now ETH continued to rise inside the wedge. So, in my opinion, Ethereum can make corrections to the support area and then the price continues to move up, and even can exit from the wedge. For this case, I set my target at the 4280 level. Please share this idea with your friends and click Boost 🚀

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