The price of ETH has reached the target which has been set by a potential double bottom pattern. The target has been located at 650 USD. However, it seems that the buyers won’t realize their profits near this level and the price continues to grow.
Currently, the nearest potential resistance may be set by the upper limit within the expanding wedge pattern. The next one could be set by the top from April 2018 at 828 USD. The nearest support could be located at 489 USD and at the line drawn through the bottoms.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Currently, the nearest potential resistance may be set by the upper limit within the expanding wedge pattern. The next one could be set by the top from April 2018 at 828 USD. The nearest support could be located at 489 USD and at the line drawn through the bottoms.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.