Technical analysis
- Ethereum has broken under an ascending wedge pattern on the one-hour time frame.
- Continued upside is the most unlikely scenario while the price continues to trade under the wedge.
What the possible outcomes are
In our most likely scenario, the ETHUSD pair will move to the downside and test towards the $1,4200 level
Alternatively, the ETHUSD pair may rally return to the upside move and test towards the $1,600 level.
Key levels
Support $1,420 $1,370
Resistance $1,500 $1,600
