Etheruem on Trendline Support. This is an update from previous analysis where we spotted a possible bullish reversal pattern we cited.
It has been a long trading week so I will make this brief. The trendline in question (one in purple) gave us support on two separate occassions. The trendline starts at 3.17 . The second more recent touch is at 7 give or take a few cents. The market may bounce from here to challenge $10 yet again. This is creating a bullish wedge in the pair. The targets for anyone bearish the pair haven’t changed either and are outlined by the fib levels.
The pair is currently range bound though (it should be noted).
On the bullish side we can see the wedge takes us above the $13 level. In what ever direction we move I will be sure to update you.
Take care and enjoy your weekend!
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Disclaimer: This is not trading or investment advice.
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