Yesterday's daily close above the $300 key resistance meant that Ethereum bulls are likely eyeing new highs. That said, the market could see further consolidation within the ascending triangle pattern in the next few days but a test on the upper triangle at $325 - $330 is very likely. Even though this kind of pattern tends to be bullish biased, we should not make any hasty conclusion as the market has yet to solidify its course, which can only be confirmed by a prevailing breakout from the triangle. Until then, there are two things to watch out for:
1. A trend reversal as price protrudes from the upper triangle, as what the sample pattern on the upper right illustrates.
2. A breach below the lower triangle is probably the best time to exit the market.
1. A trend reversal as price protrudes from the upper triangle, as what the sample pattern on the upper right illustrates.
2. A breach below the lower triangle is probably the best time to exit the market.
