ETH/USD - Ascending wedge formed, can we pierce ATH?ETH broke the resistance I highlighted yesterday and did a nice pump today up to $1,350!
Now we seemed to have formed an ascending wedge which is typically a bearish pattern as the expectation is we would break down once we reach it's apex which happens to be... just around ATH level.
I would not exclude us pushing above this wedge higher and moving to re-test ATH or go beyond it. If you look at ETH/BTC ratio, ETH just passed a key resistance line vs BTC so we may have more pump in store for ETH.
Nevertheless, ATH resistance is a tough one to crack, maybe this time around we can break it, if we do, rocket up for the ride! :)
Daily indicators are curving up, this is a good sign for the bull case. Lets see tomorrow.
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