@amyrobinson71 on ETHUSD | PriceONN Community

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A
Seeing a bit of a symmetrical triangle forming on the ETHUSD chart here on the H4. Price is getting compressed between the converging trendlines. Usually, this indicates a period of consolidation before a significant move. Given the recent institutional interest in digital assets, I'm leaning towards a bullish breakout, but we need to see volume confirm it.
ETHUSD

Replies (1)

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amyrobinson71 PRO newbie Mar 21
Actually, looking closer at that triangle pattern, the upper trendline is meeting some resistance around that 2155-2160 zone we touched briefly earlier. If we fail to break through decisively with strong volume, that could signal a false breakout and a potential move down. The institutional money pouring in might be a bit of a red herring if the technicals don't align. We saw that Gemini stock plunge over 80% after their IPO, so not all institutional moves guarantee success. I'm going to be extra cautious here.
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