Ascending triangle pattern formation on ETH on a 15min timeframe ! Target should be around 3170 $ !
🔹I'm not an financial analyst! I'm sharing this with public! It just learning purpose only! If u find anything wrong with this post ! U can tell me ⬇️ comments!
🔹incase of BTC crash ! This chart is invalid !
Everything should be pretty clear from the image but I waited for the trendline to break and the chart used the previous support as the new resistance. The chart also formed a bearish engulfing pattern on the chart which was the second confirmation. The third confirmation was the downtrend momentum on the RSI which was below 50 and that was enough for me to enter...
ETH is currently breaking through a barrier of resistance. The red zone of resistance is looking like it will be flipped into support. I personally think it could go up if it will re-test the red area as support.
The RSI & MFI are saying hinting on more upside potential.
Ethereum price is on a steep downtrend after the July 21 exponential run-up ended on September 3. However, this correction seems to have been a blessing in disguise as it foreshadows the start of a new bull rally.