EthereumShort
ETHUSD at Symmetrical Triangle Resistance... What Next?
Here we are looking at ETHUSD on the Daily TF…
Last week I talked about ETH trading within a rather large symmetrical triangle (as pictured on the chart), and wanted to provide an update on this chart today.
Currently, ETH finds itself at the resistance of this chart. As you can see, this is ETH’s third time interacting with this resistance zone. While ETH has had a sharp move up into this resistance, I expect it to find strong resistance in this zone, and potentially to make a move back to support.
Bitcoin is currently at 25.8k at the time of writing this, so a lot of what ETH does here with be determined by the BTC chart. If BTC wants to make a run to 30k, I find it likely that ETH would break out to the upside.
What do you think ETH will do next? Let me know in the comments!
Cheers!!
Last week I talked about ETH trading within a rather large symmetrical triangle (as pictured on the chart), and wanted to provide an update on this chart today.
Currently, ETH finds itself at the resistance of this chart. As you can see, this is ETH’s third time interacting with this resistance zone. While ETH has had a sharp move up into this resistance, I expect it to find strong resistance in this zone, and potentially to make a move back to support.
Bitcoin is currently at 25.8k at the time of writing this, so a lot of what ETH does here with be determined by the BTC chart. If BTC wants to make a run to 30k, I find it likely that ETH would break out to the upside.
What do you think ETH will do next? Let me know in the comments!
Cheers!!
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
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.
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
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.