In attempting to breakout the upside of the clouds the ETHUSD is currently traded at a tricky level;
indeed in addition to the potential clouds breakout, which should be validated, at least by a minimum
of one more daily closing above the clouds, the ETHUSD is also managing to breakout of a broad triangle
pattern which if confirmed would trigger a very sharp upside move, targeting a rally of 1’375 points, in opening
the door for a technical target @ 4’870….
So, what next ?
Price action over the coming hours & days will give the answer; either the breakout will be validated and an upside accelerationwill take place soon (very fragile between 3’600-3’000, former long black candle of Sept 7th) with a potential double top around 4’000
breakout triangle failure and return within the triangle pattern with the next significant support around 3’150 (cluster) ahead of the triangle base support trend line , currently around the 3’000 area and also, by the way the D1 bottom clouds.
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