Eth melting !
This chart shows Eth/USDT on a daily timeframe, highlighting a bullish breakout from a long-term descending trendline (yellow) and a more recent ascending trendline (green).
The price is currently trading at , approaching a significant resistance near $
There’s a Fair Value Gap (FVG) below the current price, which could act as a support if there’s a retracement, with the lower bound marked at $
The sharp rise following the breakout suggests momentum, but there is risk of rejection near the resistance zone.
The price may retest the support near $0.7827 if the resistance holds and the momentum reverses
The price is currently trading at , approaching a significant resistance near $
There’s a Fair Value Gap (FVG) below the current price, which could act as a support if there’s a retracement, with the lower bound marked at $
The sharp rise following the breakout suggests momentum, but there is risk of rejection near the resistance zone.
The price may retest the support near $0.7827 if the resistance holds and the momentum reverses
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