Technical analysis by Atmaseer about Symbol ETH on 5/18/2024

# High Time Frame (HTF) Analysis: Ethereum (ETH) is currently testing the resistance at the top of a triangle pattern on the high time frame chart. # Entry Strategies: ## Breakout Strategy (Long Entry): Consider entering a long position if ETH successfully breaks above the triangle pattern's resistance. This could indicate a potential bullish trend continuation. ## Retracement and Rebound Strategy: If ETH retraces from the resistance level, look for a bounce off the nearest demand zone. This could present a buying opportunity with a favorable risk-reward ratio. ## Retracement to Support Strategy (Short Entry): If ETH displays a reliable reversal signal at the resistance of the triangle, indicating a potential bearish reversal, consider entering a short position. This strategy aims to capitalize on a possible downtrend continuation, targeting the bottom of the triangle as the take profit level.Potential area to seek for a long entry.Potential short opportunity.Price retraced and rebounded from the demand zone.