ETHUSD Potential for Bullish Momentum | 2nd September 2022

On the H4, with price breaking out of the descending trendline and moving above the ichimoku indicator, we have a bullish bias that price will rise from buy entry at 1559.82 where the overlap support is to the take profit at 1725.44 where the swing high resistance and 50% fibonacci retracement are. Alternatively, price could break entry structure and drop to stop loss at 1419.94 where the swing low support, 61.8% fibonacci projection and 161.8% fibonacci extension are.

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Chart PatternsETHETHUSDTechnical IndicatorsTrend AnalysisUSD

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