Ethereum's Wedges Underpin Strong Bullish Bias
The price action of Ethereum looks poised to continue appreciating towards the previous swing peak at 4200.00. The first Wedge signalled the bullish rebound, while the second one indicates its continuation.
Notice that the price action is currently strengthening above the 23.6 per cent Fibonacci retracement level at 3475.79. Bulls can use this as an entry reference. They should also keep in mind that potential adverse fluctuations could reach the 50-day MA (in green) at 3350.00 before the upswing is continued.
Notice that the price action is currently strengthening above the 23.6 per cent Fibonacci retracement level at 3475.79. Bulls can use this as an entry reference. They should also keep in mind that potential adverse fluctuations could reach the 50-day MA (in green) at 3350.00 before the upswing is continued.
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