The phrase "wild west" is often thrown around, but this article highlights the very real risks in the current market. Ethereum's recent price action is a prime example. We've seen a multi-week ascending triangle forming on the daily chart, a pattern that typically resolves upwards. However, the $3,600 resistance has held firm so far, and the volume on recent attempts to break out has been unconvincing. A failed breakout from this pattern could lead to a sharp move down towards the $3,000 support level. Conversely, a decisive break above $3,600 with strong volume would likely trigger a rally towards the $4,000 target. Traders should be prepared for both scenarios and manage their risk accordingly. The RSI is currently hovering around neutral, so it's not providing a clear directional bias at the moment.

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