RLinda ! ETHUSD-> Confident ETHEREUM nurtures hopes

Ethereum bulls have defended the $1,250 support zone. ETH is rising and could target a strong bullish wave above the $1310-1350 resistance zone.

Price is getting support from MA-200 and MA-50. The blue 1250 level is a strong support on the daily chart, the bulls are actively defending this level. The pair is showing positive signs and could face an upside breakout to resistance at $1,310. Ethereum price remains stable

An uptrend price channel is forming on the chart and we see price recovering on the uptrend, where a triangle is forming, which is a pattern of continuation of movement. The price is gradually approaching strong resistance (since November 2021).

Provided the price finally consolidates above the level of 1,250, there is every chance of a rise to triangle resistance followed by a breakdown. In this case the price may test the global downward resistance (black line). When the black line is tested the price will enter the risk zone, where it can cause a strong surge in volume.

But provided price breaks through the 1250 support and pattern support, Ethereum may descend to the support of the uptrend channel.

Regards, R. Linda!

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Comment:

1283.6 in moment

Comment:

Ethereum within a triangle
Bulls seem to have held the 1250 level and are heading towards triangle resistance
If triangle resistance is broken, strong momentum towards 1350 is possible