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  1. Home
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  3. ETHEREUM - Bullish market behavior pattern. Confirmation?

ETHEREUM - Bullish market behavior pattern. Confirmation?

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  • encryptedE Offline
    encryptedE Offline
    encrypted
    wrote last edited by
    #1

    ceff0d37-1046-415b-b215-804f7dc517b0-image.png
    ETHUSDT is forming a consolidation in the $3300 zone in a “descending wedge” pattern, which is a relatively bullish market behavior model.

    The market is reacting to the improvement in the fundamental background, inflows of funds are increasing, and buyers are showing interest. Local trends are beginning to change for the better. After the rally, Bitcoin is trying to consolidate above 94-95K, and if it succeeds, we will have a green signal.
    Ethereum is consolidating and fighting for the 3300 zone after implementing a U-formation pattern. Overall, there are signs of bulls in the market, and if buyers keep the price above 3300, the market will have an opportunity for growth.
    The price is forming a descending wedge against the backdrop of a local bull market. A close above 3315 will be a confirming signal for growth.

    Resistance levels: 3315, 3383, 3450
    Support levels: 3300, 3281

    The price has consolidated above 3300 and above 3315, as well as broken the resistance of the descending wedge. If the bulls keep the price above these key areas, another bull run may form...

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    • chainsniffC Offline
      chainsniffC Offline
      chainsniff
      wrote last edited by
      #2

      eth grinding around 3300 feels boring but this is usually where moves get built

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