Ethereum has formed a clear triangle with the recent pullback.
As we squeeze into the tip of this triangle there is three possible ways this can play out in the next two days.
There are two support areas below as we can see from the volume profile of the past month and in case of another dip we will most likely bounce back from one of them.
In case we can break the top resistance we can go right back into a bullish run.
Please understand, this is my personal opinion and analysis and no advice for investments or trading. Please do your own research and make your own educated investment choices. Trade safe and good luck!
As we squeeze into the tip of this triangle there is three possible ways this can play out in the next two days.
There are two support areas below as we can see from the volume profile of the past month and in case of another dip we will most likely bounce back from one of them.
In case we can break the top resistance we can go right back into a bullish run.
Please understand, this is my personal opinion and analysis and no advice for investments or trading. Please do your own research and make your own educated investment choices. Trade safe and good luck!
I think this is still in play but might take a little longer to move up. A lot of technical damage has been done with this huge drop and trust has to be rebuilt.