ETH/USD makes a strong surge through a descending wedge pattern, as bears downside move runs dry for now

  • Ethereum price was seen holding modest gains just shy of 1% on Friday, after going through a punishing week of selling.
  • ETH/USD breaks out of a descending wedge pattern, playing to the text book with the move through. 


ETH/USD 30-minute chart


Spot rate:                   413.43

Relative change:       +2.01%

High:                         415.78

Low:                          397.84

Trend:                        Neutral


Support 1:                 413.17, 100MA.

Support 2:                 408.58, 50MA.

Support 3:                 407.09, above broken wedge pattern.

Resistance 1:            415.80, (resistance on 30-minute chart), strong top area.

Resistance 2:            416.00, new supply area.

Resistance 3:            424.18, 2nd August high and supply zone. 




Source link

Related Posts

Add Comment