The triangle pattern!



11/5/20221 min read

Ethereum continued its upward trend yesterday. After the price of the queen of digital currencies took the range trend below the resistance of 1600 and above the support of 1510 dollars, with the support of buyers, its downward trend line or the ceiling of the downward channel was broken upwards in a powerful corrective wave. After the pullback to this dynamic support, we saw the break of the $1,600 resistance and the formation of another bullish wave in the 4-hour time frame. At the time of writing this analysis, the price of Ethereum is still in a range, and it can form a triangle pattern in the range of $1650. The uptrend line of the currency has been updated on the daily time frame, and the current price is far from this support line. Ethereum's main resistance is still in the price of 1700 to 1780 dollars; if the price is corrected, we can expect the continued growth of the price of Ethereum.

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