Quick look at ETH on Monday morning

Hi all,

ETH is making a slow, but good progress trading out of the symmetrical triangle now. On Sunday, bulls managed to end the losing streak and formed a green candle to $242.

Next target up will be to consolidate the price above $240 and prepare for a further attack of the levels near $248-$250

I would open a long position if ETH breaks above $245. If not wait for a pullback towards $239-$240 and repeat. Target up - $249-$250.

Cheers,

Commentaire:

ETH failed to break $245 which resulted in a drop to $239 and below that, I considered a recommended buy level. Still, let's see what pattern will be formed after the red pole on the 4-h chart.

Commentaire:

to be honest I''m not too sure what to expect here since the price is not giving us any major signs
I expected a more definitive pattern there, but the coin is still gravitating around $240 in an obvious ranging