- ETH stuck in a triangle on the short term chart.
- Some more moves before a breakout occurs.
Ethereum, the second largest cryptocurrency by market capitalisation, has got itself stuck in a triangle on the short term chart but still has some more moves pending before it can break out on either side.
ETH/USD is down 0.7 percent on the day at $279.31, just around the low point of the day and oscillating in less than 2 percent range. On the 120-minute chart ETH is stuck within a triangle that has still some moves left before the price can break out of this range.
Immediate resistance is exactly above the price, in the form of upper trendline of the triangle, at $281 for now, while strong support is around $262 – lower end of the triangle.
ETH/USD 120-minute chart:
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