Ethereum (ETH) Price Watch: Ready for a Triangle Breakout?

Ethereum Price Key HighlightsEthereum price has formed lower highs and higher lows to create a symmetrical triangle on the 1-hour chart.Price is testing the top of the triangle and might be due for a bounce.Ethereum is also nearing the peak of the formation, so a breakout in either direction is also a possibility.Ethereum is consolidating inside a symmetrical triangle pattern and is testing the resistance.Technical Indicators SignalsThe 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, resistance is more likely to break than to hold or support is more likely to hold than to break.RSI is indicating overbought conditions, though, and turning lower could bring sellers back in. In that case, ethereum could follow suit and drop back to the triangle bottom near $280. Stochastic has some room to climb, so buyers could have the upper

Like this article? Take a second to support us on Patreon!