- February 6, 2023
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
Ethereum (ETHUSD) is indeed in the process of forming a Golden Cross on the 1D time-frame and it has been overlooked. It sure shouldn’t as apart from that, the price has broken above its short-term Triangle pattern just as it broke above its longer-term one on January 11, while its RSI broke above its Lower Highs trend-line, validating it as a Bull Flag.
The natural target is the 1790 Resistance 1 (Sep 10 High) but if it is not achieved before the Golden Cross, there is high chance of a pull-back to the 1D MA50 (blue trend-line) first before the test. On the medium-term, the 2030 mark (August 13 High) seems doable within a 1.5 month horizon.