Alikze »» ETH | Ascending channel
2024-09-20

🔍 Technical analysis:  Ascending channel and corner alcove formation in the green support box area 

- Continuing the analysis of the  previous post , the Ethereum currency faced selling pressure after reaching the daily and weekly supply range.

- After the formation of a Double Top pattern, it has had a zigzag correction to the green box range.

- It is currently moving in an ascending channel, where the recent correction has intersected with the bottom of the channel and the green box.

- Therefore, I expect it to grow up to Fibo 0.78 and the dynamic trigger after the swing breaks and creates a higher LH.

- In addition, a corner pattern with higher bottoms of the ascending channel is also formed.

💎 Alternative scenario:  If it fails to break the swing and does not stabilize above it, and also sharply corrects towards the green box, it is most likely that it will break it and continue correcting towards the Buyer Zone.

💎 Probable scenario:  Currently, the probable scenario is the bullish scenario according to the bullish channel and also the corner pattern pattern. Therefore, after reaching the goal, the dynamic update will be done again.
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  BINANCE:ETHUSDT  
