RLinda ! ETHUSD-> Confident ETHEREUM nurtures hopes
Updated
Ethereum bulls have defended the $1,250 support zone. ETH is rising and could target a strong bullish wave above the $1310-1350 resistance zone.
Price is getting support from MA-200 and MA-50. The blue 1250 level is a strong support on the daily chart, the bulls are actively defending this level. The pair is showing positive signs and could face an upside breakout to resistance at $1,310. Ethereum price remains stable
An uptrend price channel is forming on the chart and we see price recovering on the uptrend, where a triangle is forming, which is a pattern of continuation of movement. The price is gradually approaching strong resistance (since November 2021).
Provided the price finally consolidates above the level of 1,250, there is every chance of a rise to triangle resistance followed by a breakdown. In this case the price may test the global downward resistance (black line). When the black line is tested the price will enter the risk zone, where it can cause a strong surge in volume.
But provided price breaks through the 1250 support and pattern support, Ethereum may descend to the support of the uptrend channel.
Regards, R. Linda!
Price is getting support from MA-200 and MA-50. The blue 1250 level is a strong support on the daily chart, the bulls are actively defending this level. The pair is showing positive signs and could face an upside breakout to resistance at $1,310. Ethereum price remains stable
An uptrend price channel is forming on the chart and we see price recovering on the uptrend, where a triangle is forming, which is a pattern of continuation of movement. The price is gradually approaching strong resistance (since November 2021).
Provided the price finally consolidates above the level of 1,250, there is every chance of a rise to triangle resistance followed by a breakdown. In this case the price may test the global downward resistance (black line). When the black line is tested the price will enter the risk zone, where it can cause a strong surge in volume.
But provided price breaks through the 1250 support and pattern support, Ethereum may descend to the support of the uptrend channel.
Regards, R. Linda!
Trade active
Note
1283.6 in momentNote
Ethereum within a triangleBulls seem to have held the 1250 level and are heading towards triangle resistance
If triangle resistance is broken, strong momentum towards 1350 is possible
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