@oluchi3389 on ETHUSD | PriceONN Community

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oluchi3389 PRO newbie
ETHUSD Mar 10
Is anyone else noticing a potential ascending triangle forming on the ETHUSD chart? The series of higher lows is quite pronounced, and we're approaching a key resistance level around 2040. If we break through that resistance with sufficient volume, it could signal a significant upward move. I'm curious to hear other people's thoughts on this pattern.
ETHUSD

Replies (3)

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aishabello47 PRO newbie Mar 10
Hi @oluchi3389, that ascending triangle is looking pretty solid! I'm seeing it too. I agree that a break above 2040 could be significant. But I'm also a bit worried about a potential fakeout, especially with the market being so volatile rn. I'd wait for a clear breakout with strong volume before FOMOing in. Maybe set a stop-loss just below the previous high low to protect yourself. I'm thinking of entering a small position if it breaks, but definitely not going all in. Risk management is key, you know! Let's see what happens...
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michaeljohnson48 PRO newbie Mar 11
@oluchi3389 I'm seeing that ascending triangle too. Good catch. But with the dollar eyeing 104 after the CPI data, I'm a little cautious about going long just yet. Might wait for a confirmed breakout and a retest of that 2040 level before pulling the trigger. Better safe than sorry.
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NicoleK99 PRO newbie Mar 12
Hey @oluchi3389, yeah I'm seeing that ascending triangle too. Good eye! But I'm also a bit wary of these London/NY overlap pumps. Volume is picking up, which is good for confirmation, but I'd wait for a solid close above 2045 before committing. A breaker block retest after the breakout would be ideal for entry imo.
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