Technical analysis by Amaizin231 about Symbol ETH: Buy recommendation (5/16/2024)

i am picturing two scenarios for eth, it is still under the 200 ema, and a falling wedge is formed. with the news of etf eth coming soon, i expect a breakout, but first i need it out of the wedge to fully confirm its breakout. it could also play around 2800 area before a clean breakout. i will follow the spot btc etf story pattern as guide(few days time). be confident enough to aim as high 3500 short term and 4500 in long term after the approval of etf. if etf gets declined or postponed... use tight SL