$ETH/USD Expects a breakthrough from the triangle pattern!

11 сент. 2020 г.

ETH dropped sharply earlier this week, but has been steadily pushing up prices since then.

Currently, the low price is being rounded up with a double bottom, and it is no exaggeration to say that the high price is the most conscious of the latest market price, and it is resistance to the $ 376 line. This pattern is called the ascending triangle and is a chart pattern that suggests the possibility of returning to the uptrend.

At present, the downside round-up line (uptrend line), the short-term moving average (20MA), and the horizontal line around $ 350 overlap, and it is highly possible that it will function as a support line.

With the addition of new longs, it will gain momentum and it is likely that it will soon challenge $ 376.

On the other hand, the concern is that if it rebounds at the $ 376 line from a medium-term perspective, the shorts will become more and more resistant for roll reversal.

The line is expected to be conscious of many market traders, so it could plummet. The bottom point is the $ 320 line, and if you break through it, you can't predict how much it will go down.

While it is expected to rise, it is also a very dangerous market. I want to take on the challenge after managing risks properly.