Chart Pattern: Symmetrical Triangle Formation
The price action is forming a symmetrical triangle, a pattern that typically signals a breakout in either direction.
The price is currently trading near the apex of the triangle, indicating an imminent breakout.
Key Levels:
Resistance Zone: ~$1,920
Support Zone: ~$1,839 (marked in blue)
Breakdown Target: If the price breaks below the triangle, ETH could drop toward $1,839 or lower.
Market Sentiment & Price Action:
The lower highs and higher lows show decreasing volatility, signaling a squeeze before a breakout.
A breakdown is more likely, considering the minor lower highs forming within the triangle.
A potential retest of the lower trendline before a drop aligns with typical price behavior before a bearish breakout.
Conclusion:
If ETH breaks below the triangle support, expect a sharp drop toward $1,839.
If ETH breaks above the resistance, a bullish move towards $1,960+ could happen.
Traders should watch for confirmation before entering trades.
The price action is forming a symmetrical triangle, a pattern that typically signals a breakout in either direction.
The price is currently trading near the apex of the triangle, indicating an imminent breakout.
Key Levels:
Resistance Zone: ~$1,920
Support Zone: ~$1,839 (marked in blue)
Breakdown Target: If the price breaks below the triangle, ETH could drop toward $1,839 or lower.
Market Sentiment & Price Action:
The lower highs and higher lows show decreasing volatility, signaling a squeeze before a breakout.
A breakdown is more likely, considering the minor lower highs forming within the triangle.
A potential retest of the lower trendline before a drop aligns with typical price behavior before a bearish breakout.
Conclusion:
If ETH breaks below the triangle support, expect a sharp drop toward $1,839.
If ETH breaks above the resistance, a bullish move towards $1,960+ could happen.
Traders should watch for confirmation before entering trades.
Trade fechado: objetivo atingido
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.