Technical analysis by odbashWizard about Symbol ETH: Buy recommendation (3/23/2024)

Hello, everybody! Today, I'm going to analyze the ETH/USDT pair on the daily chart!1)We can clearly see that ETH has formed a successful Ascending Triangle pattern, and the price has broken above the resistance level.2)The Ascending Triangle has now been established! I would like to see the completion of ABCDE waves before the breakout for added strength, but the price momentum is showing a good upward trend.3)For approx 1.5 years, the price was stuck in the range of $1000-$2000 per ETH, forming an Ascending Triangle. The price sequence squeezed within this Ascending Triangle, and after 1.5 years, the price broke to the upside! Imagine this as a significant upward accumulation zone we're now breaking out from, signaling a big move ahead. The Ascending Triangle's target is approximately $4400 per ETH.4)We've also employed the MACD indicator! It appears very bullish right now and seems ready to explode. We have a BullishCross above the Histogram's zero line, which is bringing us more upward momentum.If you like this analysis, please hit the like button and subscribe :)Target Reached!