ETHUSD Short-Term Chart Analysis

 

ETH On Tradingview

Looking on the daily chart it seems that ETH is in an uptrend, bouncing between the trend lines and currently it’s consolidating on the 130$ Support line, forming a Bullish Triangle which I expect to break upwards. If we break above the 140$ Resistance level, I am expecting to have a validation of the Bullish Head and Shoulders pattern, pushing the price towards the 160$ Resistance level.

 

ETH On Tradingview

Moving on to a lower timeframe, on the 3h chart I find ETH still bullish. It formed a bullish wedge which I am expecting to break upwards trough the $140 resistance level and touch around $144. From there I would expect to fall back on $140 level, which now becomes support, and consolidate for a while. TD indicator is also on the 8th count, which indicates a bull move coming on the 9th count or later. I am expecting the spike that breaks the wedge to come very soon.

Overall, I think we are in the right direction and the market will continue to make new highs during the upcoming months. I can say that I am bullish.

Please, keep in mind that this is not financial advice, it is just me sharing my opinion. I am not a financial advisor. Always make sure to do your own due diligence before investing. 

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