Hello all and Happy 4th of July.
Lets take a quick look at Etherium on the daily or on the 4 hourly charts. As we can see the price of Etherium is inside an ascending triangle pattern which generally is a bullish price formation.
The bullish target for this pattern sits at around $1500 which is a 22% move up. However since ascending triangles can also break towards the downside, we have a bearish target sitting at $860 which is again a 22% dump.
I would keep an eye on this pattern which i believe will play out sooner than later and approximately by mid July, and the lates at the end of the month.
Important levels: $1400 Previous ATH. $1500 weekly descending line of resistance. $800 weekly descending line of support.
Thanks for reading, and stay tuned. Enjoy.
Lets take a quick look at Etherium on the daily or on the 4 hourly charts. As we can see the price of Etherium is inside an ascending triangle pattern which generally is a bullish price formation.
The bullish target for this pattern sits at around $1500 which is a 22% move up. However since ascending triangles can also break towards the downside, we have a bearish target sitting at $860 which is again a 22% dump.
I would keep an eye on this pattern which i believe will play out sooner than later and approximately by mid July, and the lates at the end of the month.
Important levels: $1400 Previous ATH. $1500 weekly descending line of resistance. $800 weekly descending line of support.
Thanks for reading, and stay tuned. Enjoy.