ETH has broken out from the triangle pattern and retested. As the volume spike is not much the breakout arouses suspicion.
It can continue the rally where 3540 could act as a strong resistance (based on previous price action) further rally can be seen if it breaks the same. Meanwhile, The short-term support zone can be seen around 2900-3070. Breaking this could trigger a large downside. Unless the price dips below support zone, the current bull run is intact and long positions can be continued. If this is is a false breakout, the price could move inside the triangle pattern or even break the lower trendline and even correct based on market conditions.
Note: The price action of ETH can be influenced and affected by Bitcoin, so Kindly refer to BTC Technicals. This is not an investment Advice, Do Your Own Research Before Taking Trades/Investing.
It can continue the rally where 3540 could act as a strong resistance (based on previous price action) further rally can be seen if it breaks the same. Meanwhile, The short-term support zone can be seen around 2900-3070. Breaking this could trigger a large downside. Unless the price dips below support zone, the current bull run is intact and long positions can be continued. If this is is a false breakout, the price could move inside the triangle pattern or even break the lower trendline and even correct based on market conditions.
Note: The price action of ETH can be influenced and affected by Bitcoin, so Kindly refer to BTC Technicals. This is not an investment Advice, Do Your Own Research Before Taking Trades/Investing.
Trade chiuso: obiettivo raggiunto
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.