#ETH, An update on #Ethereum after the breakout.

16 thg 4, 2021

A quick look at #Ethereum (#ETHUSDT, #Binance, 4HR):

• ETH has been in a wedge formation since March 20, and broke previous ATHs three times. Price has been in a tight range since April 2 and, on April 13, it broke out of the pattern.
  
• After reaching T1, it stopped at $2,548 (ATH).
  
• If S1 holds, ETH can try again to break the ATH and move higher. If S1 does not hold, price could retest the wedge or the lower resistance areas.
  

What do you think?

Still learning here, so any constructive feedback and positive vibes to improve my analysis are welcome.
Thank you and Happy trading!

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Needless to say, this is not financial advice!

18 thg 4, 2021

Ghi chú

The drop hit our stop, but at least we enjoyed our TP1! However, with price remerging from the wedge, I am not sure the pattern is invalidated. EHT also moved above EMA100. If it manages to stay above the upper side of the wedge, it may resume its way up.