ETH/USDT: Watching for a Triangle Breakdown

Feb 22

Hi!

Ethereum is currently consolidating within a large symmetrical triangle pattern. While the price is hovering around $1,977, the lack of upward momentum suggests the bears might be taking control.

The Setup:
The price has been squeezed between converging trendlines, and we are approaching the apex of the triangle. We are looking for a definitive move to confirm the next local trend.

The Strategy:
The primary play here is to wait for a breakdown below the lower support line of the triangle.

Entry Trigger: Look for a sustained break below the triangle support (roughly the $1,900 – $1,920 zone).

Execution: Enter a short position if the price breaks down and ideally retests the lower trendline as resistance.

Profit Target: The technical target for this triangle move sits at $1,781.65.

Bottom Line: Keep a close eye on the lower boundary. If that support snaps, we likely see a swift move toward the $1,780 level. Stay patient and wait for the confirmation.

Feb 23

Trade active

The breakdown happened!