Ethereum Cracked Up 10% - Asymmetric Triangle Breakout - Forex News by FX Leaders

Ethereum Cracked Up 10% – Asymmetric Triangle Breakout

Posted Tuesday, April 2, 2019 by
Arslan Butt • 1 min read

Besides BTC/USD which soared over 8%, the second most traded cryptocurrency pair ETH/USD cracked above the long-held resistance level of $142.

As you can see on the hourly chart, ETH/USD was stuck in an asymmetric triangle pattern which kept Ether in a narrow trading range of $138-$142.

At the time of covering this event, Ethereum has spiked over 10.63% to reach another strong resistance level of $155.56. The next resistance can be found around $161.750. Be very careful with your trading as there’s still no fundamental reason to justify this move.

Stay tuned to FX Leaders for latest updates. Good luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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