ETH/USDT ETH is inside sideways move that shaped triangle.
🐻 break down from lower zone of this triangle can cause continuation of correction toward support zone between 0.382 and 0.5 fob levels that is the same with descending trend line.
🐮 in other hand if bulls success to hold the lower line of triangle and break out from upper line price will jump and make another higher high around $1800.
Trade closed: target reached
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Trade closed: target reached
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#ETH/USDT ETH touched the support zone as expected in my last analysis and rejected touching the broken ascending trend zone, which is the same as the long-term resistance zone.
🐻 so if it would be just a pullback move to confirm the support as resistance, then price may drop from this zone and break below the support zone.
🐮 but if price breaks out from resistance zone we can expect another leg up toward $2000.