📈 ETH/USD technical analysis | 09-08-2020
Hello, dear members of LeoFinance! LeoFinance!
In the daily chart (1D), ETH/USD is at a very critical level:
As seen in the chart above, ETH/USD is at a level equal to the upper line (resistance) of the «Ascending Triangle» that formed in the second half of 2017, and at a level equal to the lower line (support) of the «Descending Triangle» that formed in the first half of 2018. That's why I think this level will serve as a magnet for quite some time.
In my view, it won't be that easy for Ethereum to move away from this level and it may continue to consolidate at approximately current level within the next few weeks.
So, fellow LeoFinancier, what do you expect from ETH/USD in the near future?
p.s. at the time of writing one Ethereum costs $390.60 according to LeoFinance
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14 years, and as a cryptocurrency analyst for the last 3 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.
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I have been reading ideas on Tradingview and it seems everyone is saying the same thing about ETH. Nobody knows if and when ETH will break this price point and if the price will ascend or descend. Do you have other indicators to show the upward or downward trend?
Yes, I use many other strategies and most of them indicate that the bullish sentiment still remain in place in most of the time frames.
Usually on Tuesdays I analyze ETH/USD. So, you can check my video on Tuesday.
Thank you so much for your comments and interest, @rmsadkri!
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Thanks. I will definitely check out your Tuesday videos. I am interested on ETH/USD to trade and hold. I don't mind if you make those videos twice in a week 😇
Thank you once again!