ETH Price Holds Steady at Key Support Level
2024-11-01

ETHUSDT Technical analysis update

ETH price has been trading within a triangle pattern for the past 85 days, with multiple touches on both the resistance and support lines. A breakout is likely soon. If the price breaks above the resistance line, a strong bullish move could follow. However, if it breaks below the support, the price may drop to the $1,800 - $2,000 range.

ETH price has formed a triangle pattern at a strong 2-year support line.


In weekly charts 100 and 200 EMA acts as a strong support for ETH.


Currently, the ETH price is trading at a strong support level, indicated by multiple technical indicators. We can expect a bounce from this level after a few days of consolidation

Regards
Hexa