Eth melting !
2024-10-08

This chart shows Eth/USDT on a daily timeframe, highlighting a bullish breakout from a long-term descending trendline (yellow) and a more recent ascending trendline (green).

The price is currently trading at , approaching a significant resistance near $
There’s a Fair Value Gap (FVG) below the current price, which could act as a support if there’s a retracement, with the lower bound marked at $
The sharp rise following the breakout suggests momentum, but there is risk of rejection near the resistance zone.
The price may retest the support near $0.7827 if the resistance holds and the momentum reverses