3 min readETHEREUM (ETH/USD):
Ethereum has experienced an impressive rally over the past week, posting a week-over-week gain of nearly 20% following Donald Trump’s election as the new U.S. President. Examining the technical indicators below, we can see a decisive breakout above the external descending trend line, and I don’t expect this level to be retested.
If we highlight the high and low of the current price action, it becomes clear that the retest of the descending trend line aligns perfectly with the 50% level on the Fibonacci tool. This level also coincides with the previous resistance area we recently broke, which now has the potential to act as support. Recognising these overlapping confluences is essential when navigating the financial markets.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
