While i was looking at the ETH/USD chart i realised that an ascending triangle shape has been created. By looking at my analysis you can see the triangle , the resistance zone (red) and the support zone(green). The ascending triangle has been created by the horizontal resistance line and by the ascending uptrend line.
I believe that if ETH breaks the resistance line we will have further upward movement and some potential profit (5-10%).
If ETH breaks the uptrend line then we will have further downtrend movement and then test the support zone (776).
By looking at the RSI and MACD indicators i believe that this trade has the potential of achieving 5-10% profit (depending your buy point) but we will have for sure further downtrend movement again(RSI getting closer to overbought zone and MACD showing some strength for now).
As i mentioned before this is a short term trade with some noticeable risk .
Trade on your own risk .
I wish you a happy profitable day.
I believe that if ETH breaks the resistance line we will have further upward movement and some potential profit (5-10%).
If ETH breaks the uptrend line then we will have further downtrend movement and then test the support zone (776).
By looking at the RSI and MACD indicators i believe that this trade has the potential of achieving 5-10% profit (depending your buy point) but we will have for sure further downtrend movement again(RSI getting closer to overbought zone and MACD showing some strength for now).
As i mentioned before this is a short term trade with some noticeable risk .
Trade on your own risk .
I wish you a happy profitable day.