Etherium: $1655 if this pattern plays out.

Hello all. Looking at ETHUSD on the 4HR timeframe we see a formation of an ascending triangle pattern which is a bullish formation.

The price of etherium has reached the upper horizontal trendline of this pattern and has a breakout price target of $1655.

The price currently trades above the $1200 mark and above the 200 week MA.

The closer the price gets to the apex of this triangle, the faster we can anticipate a breakout.

If the price breaks towards the upside then we are look at 35% move up.

For bearish scenario, just extrapolate the same yellow line and you will get the bearish price target for possible bearish breakout.

Thanks for reading, and stay tuned. Enjoy.