This article is also provided in Spanish.
Analysts explained how Ether Leeum (ETH) can see the price conflict at $ 1,700 if the level of support for this technical analysis (TA) pattern fails.
Ether Leeum may be at risk of getting up with the chapter channel.
In the new post of X, ALI Martinez, an analyst, discussed where Ether Lee could head next, based on the pattern formation of the 12 -hour price chart. The pattern of the problem is TA’s ascending parallel channel, which includes two parallel trend lines that are sloped upwards, as the name suggests.
Related reading
If the asset is inside this channel, it will pass through the net increase. The high top of the price tracks the top line of the pattern, while the high minimum draws a low level.
Like other TA patterns, it is assumed that the previous line acts as a source of resistance in the near future, and the latter acts as a point of support. Feeding from one of these boundaries can suggest the sustainability of the tendency in that direction.
Ascending parallel channels are not the only parallel channels in TA. If parallel integration occurs toward a downward, it is known as a parallel channel that descends formation. However, since this title is maintained by the default parallel channel, either of these is the most commonly observed type. Since this is maintained by the default parallel channel, there is a trend line parallel to the time axis (ie, there is no slope).
The chart shared by the analyst now shows a channel that shows that Ether Lee’s 12 -hour price has been traded internally for the last few years.
In this graph, the price of Ether Leeum half -day has taken a very short re -test for the low level of the recent uphill channel. The coin found a support, but the price is still very close to the line. In other words, it means that another re -test can potentially happen. The level is currently located at $ 2,500.
In the last few years, this line has been held continuously for cryptocurrency, so you can do it again as soon as possible. “If Ether Lee Rium $ ETH It has more than $ 2,500 and can rebound to $ 4,000 or $ 6,000, ”Martinez says.
The former goal is about half of the channel in the mark, and the latter corresponds to the top level. ETH lasted up near the previous line.
Related reading
“But if $ 2,500 fails with support, the next goal will go to $ 1,700!” Warn the analyst. If you collide with this goal at the current price of the coin, it decreases by more than 39%.
Now, whether Ether Lee will resume the low level of the uphill channel in the next few days.
ETH price
At the time of writing, Ether Lee is spent $ 2,800 for about $ 2,800 over the last seven days.
DALL-E’s main image, TradingView.com chart