Hello traders .

This is an update for the ETH price , also I want to mention that this idea is asked by one my dear followers @AlexanderAleksandrovich .

In the past days I was in the travel , so I couldn’t update you my friend about the market situation and new trade opportunities , so please forgive me because of this .

Let’s start :

In the chart above we can see that the ETH is already trading above the the triangle pattern and the W pattern , but after testing the 0.5 Fibonacci level started to retracement , in my opinion there is chance to come back and retest the triangle pattern and the daily support but if you look at the EMA Ribbon 👇 , we can see that the EMA Ribbon is flipping bullish and this is a bullish news for the ETH :

I think the next big resistance for the ETH price is around the 0.618 Fibonacci level which you saw in the first picture .

This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .