ETH is in an ascending triangle state

ETH is in an ascending triangle state

Recently, ETHUSD is in an ascending triangle state, as shown in the yellow block, with a high chance of rising.

The top is currently facing resistance at 1140, waiting for an upward breakthrough.

From the perspective of major currencies, stock indexes, and commodities in the world, the major European and American stock indexes all fell sharply last Wednesday. They rebounded on Thursday and fell again on Friday. Today (Feb.1th) has also rebounded so far.

Therefore, the global capital market expects the Fed to adopt monetary easing policies.

At the same time,Today (Feb.1th) silver rose sharply, so there is more support reason for the fundamental factors of ETH's long-term rise.

From the yellow ascending triangle as shown in the figure, the opportunity for ETH to rise is very high. It is recommended to do Long Position near the lower edge of the triangle. The stop loss can be set at a price range of about 1-3% below the lower edge of the triangle.

Activists can even do a Buy Stop chasing strategy when the price breaks above 1440.

Update: Feb.1th 2021