As we can see price has hit bottom of the triangle and successfully bounced from it. Price has risen from 420$ to 500$ and now it is in consolidation and resistance levels (EMA50). there is possibility of small pullback as well as possibility of strong price action to the top of the triangle and FIBO 50. Whole crypto market has reached biggest market cap in past month, it means that there is a strong incentive and presumption to go long after market breakdowns and massive market sell-offs.
Comment:
Good Entry level - 450-455$ (Previous wave FIBO 61.8 level). As I said this pullback is good to ETH, now we can expect consolidation at 450-460$ level, after that we can expect bull rallies to the top of triangle
Comment:
Low market volume, consolidation period has started, it is good that price don't want to form lower lows during low volume period. Waiting till new impulses, which will show where price want to move.
My personal advice - wait until price reach or breakout EMA50
My personal advice - wait until price reach or breakout EMA50