ETH has been following an ascending triangle pattern. This normally is associated with a continuation of the trend, which in this case has been a short term uptrend. I am calling a target of $960 due to the length of the uptrend prior to the ascending triangle formation. A buy along the ascending trend line can be a good point to buy and hold for short term as well as long term strategy.
Note
Following the trend lines pretty well, just need a nice push of buy volume to get over the resistance. Watch for a failure to break resistance sometime today and set stop loss orders accordingly if you are in for the short term trade.
Note
Nice little bump in volume in the right direction. Watch closely in the coming hours. As of now, we are above both the resistance and one of the fib lines. If it remains above here it should be a strong support.
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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.