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.
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.
Trade ativo
The breakdown happened!
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📊 AVATrade Ambassador Join & explore:
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.