Ethereum descending triangle
- Potential moves in ETH/USD based on technical analysis
*Price action is showing a descending triangle. The pattern
has been tested 6 times on the trendline and 8 on support
Descending triangles usually break downward.
on a Sell, take profit is around 265 (21% gain, 7% risk).
on a Buy, take profit is around 393 (10% gain, 5% risk)
volume has flattened when creating the pattern. In an ideal situation, we get a breakout with a spike in volume to confirm.
What do y'all think?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.