@SolarFlare86 on ETHUSD | PriceONN Community
Just noticed ETHUSD seems to be forming a symmetrical triangle on the H4 chart. The consolidation is happening around the 2050-2070 zone. Given the recent bullish momentum from the Aave news integration and the overall strength in the ETH ecosystem, I'm leaning towards a bullish breakout from this pattern. Watching for volume confirmation.
Replies
K
@SolarFlare86 I hear you on the triangle pattern, but honestly, with how choppy things are this morning, I'd be very careful expecting a clear breakout. It could just be noise inside that pattern.
@SolarFlare86 I agree the consolidation on ETHUSD is tight, but I'm a bit hesitant on the bullish breakout given the overall market sentiment and the fact that the 50-day SMA is still above the price.