Ethereum Stuck in Upward Expanded Triangle: What's Next?
2024-10-01

Ethereum is moving in the Expanded Triangle in the 4-hour time frame.

Examining the Ether chart in the 4-hour timeframe, we conclude that Ethereum is moving in an upward Expanded Triangle pattern and is now in the middle of this pattern.
As can be seen, the last ceiling that Ethereum was able to register did not reach the ceiling of the said pattern. This movement shows the increase in sales pressure and the decrease in the power of buyers.
Ethereum can move towards the two support levels identified at $2,531 and $2,451 to get the liquidity it needs. Also, if the bottom of the pattern is broken, we can expect Ethereum to move towards the important support area of ​​$2,148-$2,200. 

Do you think Ethereum will be able to break out of the Expanded Triangle pattern?


