Ethereum (Polo) Decision Zone
We recently broke a major pennant (triangle). However, that break occurred in a nasty zone.
Will we break up or down? I have a strong belief that the former downtrend line from the 36 high will act as firm support in any downward move, whereas the current demand line is weak at best and will likely provide little resistance in a breakout.
That being said, I don't see it going down. As mentioned in the chart, sideways action and a possible breakout. Waiting for confirmation. Ethereum is on Microsoft Visual Studio. Bitcoin exchanges have gone out of service. Good fundamentals all around. I do not see a breakdown in this climate.
Will we break up or down? I have a strong belief that the former downtrend line from the 36 high will act as firm support in any downward move, whereas the current demand line is weak at best and will likely provide little resistance in a breakout.
That being said, I don't see it going down. As mentioned in the chart, sideways action and a possible breakout. Waiting for confirmation. Ethereum is on Microsoft Visual Studio. Bitcoin exchanges have gone out of service. Good fundamentals all around. I do not see a breakdown in this climate.
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