@nathanfortin26 on ETHUSD | PriceONN Community
Examining ETHUSD on the H4 timeframe reveals a potential ascending triangle pattern forming. The upper trendline aligns closely with the 200 SMA, reinforcing its significance as a resistance level. A decisive breakout above this confluence of resistance could trigger a substantial rally. Conversely, failure to break through could lead to a retest of the lower trendline, potentially around the 1950 area. Risk management is crucial in this scenario. Monitoring volume during any breakout attempt will be key to confirming its validity. The 50 SMA is providing dynamic support.