ETH/USDT broke the ascending channel which is inside a bigger ascending, and it is known that when the price breaks an ascending channel, our target should always be the beginning of the channel.
As I always say, cryptocurrencies are known for long and annoying retests such as this bearish flag it created after breaking the ascending channel. Using Fibonacci Extension, our first target will be the 100% Fibonacci Extension level at 2478. Breaking it will push the price for more downside towards the beginning of the ascending formation at 2320.
As I always say, cryptocurrencies are known for long and annoying retests such as this bearish flag it created after breaking the ascending channel. Using Fibonacci Extension, our first target will be the 100% Fibonacci Extension level at 2478. Breaking it will push the price for more downside towards the beginning of the ascending formation at 2320.
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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.