ETHUSDT → Rising triangle before strong resistance. What's next?

4 Apr 2023

ETHUSDT forms "Rising triangle" pattern. The realization of this set-up will direct the price into a new price channel, the potential of which will be the growth up to the level of 2300-2400. What to expect from ethereum?

Pay attention to the pattern that forms near the resistance of the local price channel. A strong accumulation is forming, Price is above the nearest support level of 1784. The key resistance level for the price is 1850, a breakdown of this zone can form a strong momentum.
Earlier, the price tested the Fibo level of 0.236 on the pullback and with a strong trend this level was enough to push the price away.



Strong levels:
Support 1784, 1725 and 1672
Resistance 1850, 2020.
A breakout of the 1850 level could activate a large volume that could push the price up, thus forming a bullish momentum.
I expect that in the near future after the next retest of 1850 level the price will be able to break it.
The short-term target is the resistance of 2020, the medium-term target is the liquidity zone of 2200 and 2300.

Regards to R. Linda!

4 Apr 2023

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