ETH/USD outlook is currently showing a triangular pattern, often indicative of consolidation before a breakout. Triangles typically form when price action is squeezed between converging support and resistance lines, signaling indecision in the market. The key resistance levels you mentioned—2,740.00 and 2,842.00—are significant, as they could act as barriers for price action to continue upward.
For now, any long positions should wait for confirmation through a solid breakout with volume to ensure the move is sustainable. Risk management and observing how price reacts around these key levels will be crucial.
For now, any long positions should wait for confirmation through a solid breakout with volume to ensure the move is sustainable. Risk management and observing how price reacts around these key levels will be crucial.
Trade closed: target reached
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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.