Ethereum consolidating within triangle, could play out for weeks

8 juin 2021

The long upward trend line from 23-December is still acting as a support line for Ethereum. We've broken this a few times but quickly regained that line as we move along into a consolidating triangle pattern.

I know that the winds are not in favor of Ethereum over the next few months (Bitcoin dominance, downward trend, upper resistance bands). Some of my earlier positions got stopped out recently, so I am looking for re-entry as we get closer to the end of this pattern or if we break out sharply.

All the best with your trades. Take care.

8 juin 2021

Note

Closer up, we will have to see how the price reacts to the 1-hr 20-period EMA...