Hello traders 🐺 .

I in this idea I want to talk about the ETH most probable scenario and this could make a nice trading opportunity for you my friends , so make sure to read this idea until the end 🐺🚀 .

In the chart above we can see that in the daily chart , ETH created a triangle pattern above the weekly support trend line and this could give us a very clear indication for ETH , to realize that the ETH is start to accumulation above the support and make itself ready for the new price targets .
but why I say accumulation rather than distribution ?

this is because that the current news are bullish for the ETH and as you know that the ETH is about to change from proof of work to the proof of stake , and in my opinion this is a very bullish news for the ETH holders , but the second reason for saying accumulation rather than distribution is that the price is now trading above the weekly support trend line and as you know the weekly structures are very strong , and final reason for that is , ETH break above the daily resistance trend line (blue line) .

In the chart above I show you the possible price target for the ETH , if price success to break this symmetrical triangle to the upside .
in that area we have a very strong supply zone and after price testing supply zone we can expect a bearish moves .

how I predict the triangle price target ?

first of all the technical target of the triangle shows us that level , but for more confident I like to put the strong areas together and based on them predict the most probable price targets .
In the picture above you can see that In addition of the resistance area (red lines) we have the 0.618 Fibonacci level in that levels , so in that area we have 3points of confluence that comes together and make that area a strong resistance level .

Thank you guys for reading my idea , also don’t forget to like my ideas and follow me for more support🙏.