ETH: Will the Ascending Triangle Hold, or Breakdown Imminent?
Yello, Paradisers! Could #ETHUSDT be on the verge of a significant breakout or a sharp decline? Let's dive into the technicals.
💎#ETHUSDT has been forming an ascending triangle, with multiple tests of both the support and resistance levels. The price has shown respect for its support zone, but what happens if the trendline doesn't hold?
💎Currently, ETHUSDT is respecting its support zone. However, if the trendline fails, the support at $2,527 will be crucial. The pair has probability to hold the support and soars again to resistance areas.
💎The pair has a strong probability of breaking out from the ascending triangle. If this happens, the first significant resistance to watch is at $2,876 . Should the volume sustain, ETHUSDT could then target $3,068 and potentially even $3,331 .
💎On the flip side, if we see a candle close below the $2,527 support, it will invalidate the bullish trend continuation. In this scenario, ETHUSDT may experience further downside pressure.
Stay vigilant, Paradisers. The market is volatile, and only the disciplined will thrive. But it never is, and never will be a free ride. Make sure you play it smart, Paradisers. Discipline, patience, robust strategies, and trading tactics are the only ways you can make it long-term in this market.
Trade smart, Paradisers! Stay focused, patient, and disciplined. This is the only way you will make it far in your crypto trading journey. Be a PRO
MyCryptoParadise
iFeel the success🌴
💎#ETHUSDT has been forming an ascending triangle, with multiple tests of both the support and resistance levels. The price has shown respect for its support zone, but what happens if the trendline doesn't hold?
💎Currently, ETHUSDT is respecting its support zone. However, if the trendline fails, the support at $2,527 will be crucial. The pair has probability to hold the support and soars again to resistance areas.
💎The pair has a strong probability of breaking out from the ascending triangle. If this happens, the first significant resistance to watch is at $2,876 . Should the volume sustain, ETHUSDT could then target $3,068 and potentially even $3,331 .
💎On the flip side, if we see a candle close below the $2,527 support, it will invalidate the bullish trend continuation. In this scenario, ETHUSDT may experience further downside pressure.
Stay vigilant, Paradisers. The market is volatile, and only the disciplined will thrive. But it never is, and never will be a free ride. Make sure you play it smart, Paradisers. Discipline, patience, robust strategies, and trading tactics are the only ways you can make it long-term in this market.
Trade smart, Paradisers! Stay focused, patient, and disciplined. This is the only way you will make it far in your crypto trading journey. Be a PRO
MyCryptoParadise
iFeel the success🌴
Note
#ETHUSDT printed 6.35%, tapped neckline resistance , still looking good and has probability to go higher.
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Get FREE Market Insights or start trading like a PRO inside ParadiseFamilyVIP🎖️
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