Ethereum in the bow of the wedge
From the higher perspective ETHUSD is in the bullish state. The pair is higher than 200-days EMA, in the upper part (higher than 50%) of the correction pattern of the global uptrend.
At this point, the pair is getting close to the bow of the wedge created by the Downtrend Line and Uptrend Line of the correctional pattern.
Also, this wedge coincides with the 900.0 resistance level. Hence, Ethereum will have to break the level and go on to the next resistance level 1000.0 or to bounce off from the 900.0 level and go downwards.
At this point, the pair is getting close to the bow of the wedge created by the Downtrend Line and Uptrend Line of the correctional pattern.
Also, this wedge coincides with the 900.0 resistance level. Hence, Ethereum will have to break the level and go on to the next resistance level 1000.0 or to bounce off from the 900.0 level and go downwards.
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