ETH/USD appears to be forming a bullish pennant on the 1H chart following a strong impulsive run from $4,290.64 to $4,518.60. The consolidation is converging toward the apex with declining volume, consistent with continuation pattern behavior.
Breakout Projection:
Invalidation: Breakdown below the lower pennant trendline with strong volume before breakout would invalidate the bullish pennant thesis.
This is not financial advice. It is merely an observation of an optimistic apparent pattern formation. Always do your own research and assess your own risk tolerance before making any trades.
Breakout Projection:
- Pole height: $227.96
- Estimated breakout point: ~$4,622
- Target: ~$4,842
Invalidation: Breakdown below the lower pennant trendline with strong volume before breakout would invalidate the bullish pennant thesis.
This is not financial advice. It is merely an observation of an optimistic apparent pattern formation. Always do your own research and assess your own risk tolerance before making any trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.