Mihai_Iacob

Ethereum- Consolidation becomes descending triangle

Corto
CRYPTO:ETHUSD   Ethereum
After the recent high at 2150 in mid-April, Ethereum started to correct and this correction becomes range trading and consolidation in the past 3 weeks of trading.
Although so far 1800 support held strong, EthUsd was incapable to pass above 1900 and the pressure seems to be on the sell side.
A beak of this support level exposes the next important level which is the confluence of trend line and horizontal level at 1700.
For a bullish scenario at this moment price needs to go back above 1900

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