Ascending Trend Channel

14 feb 2021

ETHUSDTUsing the Fibonacci tool we can see that 1800 is becoming strong support that is managing to hold against the negative price action, ETH is not currently in an overbought state shown on the Money Flow index which means there is still some possibility of a further price increase to a new all time high. However we may breakout up to 2000 - 2100 if we don't see a small correction before. The MACD is also showing a crossover on the signal. An opportunity to open a Long position, after we break 1840 and retest this level and see a bounce upwards and confirm this level as support, could consider moving the take profit further upwards depending if we see a small retracement or not.