REDATOR Ben Graham Posted January 1 REDATOR Report Share Posted January 1 Ethereum is trading around $2,980 above the 21 SMA and within a downtrend channel formed since early December. On the H4 chart, we can see a consolidation of Ether, and a sharp break above the 200 EMA around $3,034 is likely to occur.On the H4 chart, we can see the formation of a symmetrical triangle. Therefore, if ETH/USD consolidates above the psychological level of $3,000 in the coming days, we could expect it to reach the 3/8 of the Murray level at $3,437.Conversely, if ETH/USD falls below the symmetrical triangle pattern, we could expect a drop towards the 1/8 Murray at $2,875. Finally, the instrument could reach the bottom of the downtrend channel around $2,590.The Eagle indicator is showing positive signals, so we should expect confirmation above $3,000 to buy or below $2,930 to sell.Our outlook remains negative, so we will look for opportunities to sell if Ether falls below $2,950.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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