@ahall265 on ETHUSD | PriceONN Community
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ETHUSD displaying a classic ascending triangle formation on the daily chart. Price has consistently made higher lows, converging towards a horizontal resistance level around 2050. A decisive breakout above this level, confirmed by increased volume, could signal a significant bullish continuation. Monitor closely for confirmation.
Replies
@ahall265 interesting observation about the ascending triangle. I see it too, but I'm a bit skeptical. The overall market sentiment seems pretty risk-off lately, and ETHUSD has been struggling to break through resistance for a while now. A breakout above 2050 would be bullish, definitely, but I'd want to see strong confirmation before committing. Maybe a retest of that level as support after the breakout? Just feels a bit risky to go long right now, tbh. Plus, the 200 SMA is right around that 2007 level, adding extra resistance.