Ethereum (ETH) correction_2
If you followed my last analysis on ETH, you would have known that ETH have one last downtrend wave to complete. The ETH analysis is still in place, but be careful since the effect of ETH merge is not so clear. There might be some sharp upward or downward moves, however I don't think anything unusual happen.
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It seems ETH moving downward in a descending channel. Have to wait and see how ETH reacts to the channel's bottom.
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ETH is moving sideway in a relief zone. Have to wait and see in which direction it will breaks this rectangular zone.
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Well, ETH broke the rectangular relief zone upward and touched the upper support lines. We have to wait for confirmation: support lines break and higher high forming and possible pullback or retest on the lines. Still to soon for prediction, have to wait and observe.
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So ETH broke the the downward pattern and going up. There is a strong horizontal area on which ETH reacted several times before. Also, it seems a triangular pattern is forming.
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Ethereum been oscillating in an inverted triangle and now it seems price has broke upward. Let's see if price also passes over the horizontal support area. Then its upward time.
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Ethereum surely broke the horizontal resistance area and going up.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.