ETHEREUM (ETH/USD) - It Has a Breakout From The Bearish Pattern!
Ethereum' has made a breakout from the bearish pattern called "Rising Wedge". This is a continuation pattern and like You know the overall trend is down and if it makes breakout downwards it confirms that we might go to test the lower levels.
Currently, after the breakout, the price finds a support slightly above the round number $200 and it made a higher low (HL). At the moment it fights with the trendline which is pulled from 01.04.2018. This is a pretty significant trendline because it has respected it pretty nicely and if it breaks above then we have next strong resistance (blue line at $225) so, the price is on the risky area and it is hard to break above if we don't see a pump.
Bearish confirmations is a close below the orange area. If we get a candle close below this, then we have a break below the round number $200 and the price structure have made a new short-term lower low.
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
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Best regards!
Currently, after the breakout, the price finds a support slightly above the round number $200 and it made a higher low (HL). At the moment it fights with the trendline which is pulled from 01.04.2018. This is a pretty significant trendline because it has respected it pretty nicely and if it breaks above then we have next strong resistance (blue line at $225) so, the price is on the risky area and it is hard to break above if we don't see a pump.
Bearish confirmations is a close below the orange area. If we get a candle close below this, then we have a break below the round number $200 and the price structure have made a new short-term lower low.
Hopefully, those levels and this analysis helped You out a little bit to confirm your own analysis!
If You want to get deeper analysis and crypto-news then please visit our site, the link is on the profile!
Please, don't forget to hit the LIKE button to support us!
Best regards!
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