ETHUSD - Pennant Bullish Breakout

19 thg 3, 2020

A pennant has been forming in ETHUSD after a massive selloff last week. Overnight price broke through the top of the pennant. If price can hold this level as support now we could see begin to rally further. The first price target is the top of the pennant at about 145. The second price target is 190 which is the distance from the highest and lowest point of the pennant measured from the point of the breakout. Alternatively, if price does not hold here and falls back inside the pennant, it would invalid these potentials for now. I will be watching for candlestick signals and look for any signs of further bullish or bearishness.