ETH is forming a falling wedge since its year high $366. This looks like a long term bullish pattern. The thicker lines indicate the larger falling wedge, now validated on 11th oct. the support line of this wedge was validated on 26th Aug.
There is smaller falling within this. the recent 30% was following the breakout of the resistance line (50% from the previous low). The current PA, however, is supported by a counter-trendline. This trend looks set to be broken by 23rd oct. The preferred movement will be up as the price didnt the support on the previous downward movement.
Expecting a minimum 30% upside after the breakout. Optimistically it should go above previous highs.
TP1 = 257, TP2= TBD
There is smaller falling within this. the recent 30% was following the breakout of the resistance line (50% from the previous low). The current PA, however, is supported by a counter-trendline. This trend looks set to be broken by 23rd oct. The preferred movement will be up as the price didnt the support on the previous downward movement.
Expecting a minimum 30% upside after the breakout. Optimistically it should go above previous highs.
TP1 = 257, TP2= TBD