Ethereum - Bullish Ascending Triangle Shaping Up
ETHUSD has been moving sideways during the last couple of months. In my previous post (link below) I proposed a few scenarios that would see us either move down to below the July $140 low, or move to new highs. Given the current pattern, it looks like Ethereum has decided to take the 'in-between' option, shaping up as an ascending triangle which is usually followed by a very strong move higher.
My current expectation is for ETHUSD to continue trending in the triangle pattern for another few weeks before making a stronger push above $400 that will eventually take it to at least $1000. A break below $140 would invalidate this move and make the red alternative the most likely count, however, that is not my primary expectation atm.
My current expectation is for ETHUSD to continue trending in the triangle pattern for another few weeks before making a stronger push above $400 that will eventually take it to at least $1000. A break below $140 would invalidate this move and make the red alternative the most likely count, however, that is not my primary expectation atm.
