Ethereum to give clear breakout by Dec 31
BTCUSDEthereum is taking support at the Fibonacci channel base line formed from the lows of July 2021 (as shown at 2 in chart)
Observations in the last 11 trading sessions.
1. Bounced from the lows almost every day and maintained the support line.
2. Faced resistance at 38.2% Fibonacci retracement level (Sep low to Nov High – as shown at 1 in chart)
Support line and resistance line are making a triangular pattern, end point of which is Dec 31, 2021.
Focused triangle area can be observed on the right hand side.
Hence Ethereum to give clear breakout either side on or before Dec 31, 2021.
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