Greetings everyone,
Right now ETH is moving sideways which can be a good thing actually. Give you guys time to get your money right. If price breaks trend line upwards then we can see a nice move to the upside. Pattern wise, this looks like a descending triangle which typically is a bearish pattern. However, price will do what it wants too. The dark blue rectangle captures the support area. The light blue lines capture potential target points. I'm very curious about the red line which represents resistance. I'm going to be watching this closely however, paying attention to the intersection of the trend lines which create the old fashion choke point. Price likes to gravitate to this area which can also be used as a potential decision point. Stay tuned.
Right now ETH is moving sideways which can be a good thing actually. Give you guys time to get your money right. If price breaks trend line upwards then we can see a nice move to the upside. Pattern wise, this looks like a descending triangle which typically is a bearish pattern. However, price will do what it wants too. The dark blue rectangle captures the support area. The light blue lines capture potential target points. I'm very curious about the red line which represents resistance. I'm going to be watching this closely however, paying attention to the intersection of the trend lines which create the old fashion choke point. Price likes to gravitate to this area which can also be used as a potential decision point. Stay tuned.
