ETH Technical Analysis
#Ethereum (ETH) is in a consolidation phase, forming a symmetrical triangle pattern in recent days, reflecting the balance between buying and selling forces.
If the price breaks above the moving average, the pair #ETH/USDT. is likely to rise to the resistance line. This is an important level to watch, as if it breaks above it, the pair has the potential to rise to $3,400. However, the $2,850 resistance level is also worth noting.
Conversely, if the price breaks down sharply from the resistance line, the pair may continue to struggle within the triangle. The bears will need to break the uptrend line to initiate the next bearish phase.
