ETHEREUM - ASCENDING TRIANGLE FORMATION | 61.8 FIBONACCI / 100MA

Analysis

• Inverse head and shoulders pattern invalidated and now seeking an ascending triangle breakout
  
• 100MA serving as resistance turned support on the 4H chart
  
• Breakout targeting the 61.8% fibonacci resistance at ~$3400 before retesting the resistance turned support
  
• Targeting a multi-week ascending triangle on the macro time-frame, akin to 2017 (see post linked below)
  

Conclusion: Price about to potentially break out of an ascending triangle. Short term target as the 61.8% fibonacci at ~$3400, mid-term target at close to the ATH at ~$4200

2017 Fractal