Ethereum
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ETH break-out or rejection ?

266

ETH has been moving in a descending channel since the beginning of this bear market (november 2021).

It seems to follow BTC with some delay because BTC had broken this channel almost a month ago.

Today, ETH is at a crutial point: The 4th time touching the upper trendline of the channel.

Will it be rejected or be successful to break-out this channel? It is worth noticing that BTC needed to wait until the 5th time to break its channel.

If break-out happen, it wouldn't follow by a rally in this context (like BTC). In case of rejection, it is likely that ETH goes to 1000s for liquidity grab.

Nota
Rejection is confirmed. In my opinion, ETH would go to see $1200-$1100 area first, the next days.

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