ETH on the verge of another breakout

5 févr. 2021

ETH/EUR on the 1H timeframe shows the formation of yet another ascending triangle suggesting that a push towards the upside is likely. However, for this push to take place we will need more volume, as it now seems lower than previous days but i am confident that it will increase when the green candle will be closer to the resistance of the triangle ( trend line on the top). If you zoom out you can see that ETH has very recently broken out of the previous ascending triangle so i am confident this can happen again. As i said, this is the 1H timeframe, however this pattern holds true even on the 4H timeframe, showing that an eventual breakout will be longer lasting.