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The interesting technical pattern forming for ETH on the 4-hour timeframe. The price appears to be consolidating within a descending triangle pattern. If a confirmed breakout occurs above the upper trendline, it could signal a potential price increase towards the $3800-$4000 resistance zone.
However, it's important to consider the invalidation point. A daily close below the $2900 level would weaken the bullish case for a breakout and suggest a potential decline.
What are your thoughts on this ETH setup? Share your analysis in the comments below!
The interesting technical pattern forming for ETH on the 4-hour timeframe. The price appears to be consolidating within a descending triangle pattern. If a confirmed breakout occurs above the upper trendline, it could signal a potential price increase towards the $3800-$4000 resistance zone.
However, it's important to consider the invalidation point. A daily close below the $2900 level would weaken the bullish case for a breakout and suggest a potential decline.
What are your thoughts on this ETH setup? Share your analysis in the comments below!
Catatan
#ETH/USDT: Bullish Breakout Above Triangle Pattern
ETH broke above the triangle pattern, currently holding support. However, the market often sees lower volume on weekends, and a retest of the triangle support (around $3,000) is possible on Monday.
A successful retest and hold at this level could signal a buying opportunity for altcoins.
Important to watch the weekly close for confirmation.
Catatan
22% up from entry🫡
Cheers🥂
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.