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ETH/USD is trading around 3,478, having a technical correction as it is trading within the symmetrical triangle pattern. We are likely to see a further bearish movement until the token reaches the bottom of this pattern around 3,437.
Ether could trade within the symmetrical triangle pattern in the coming days until a sharp break occurs on some of the sides. A break below $3,400 could accelerate the decline towards 3,125. A bullish break above 3,540 could accelerate the bullish move and the price could reach 3,750 and even the psychological level of $4,000.
We have seen that the cryptocurrency market tends to appreciate over the weekend. Therefore, we believe that a technical bounce above 3,437 could provide an opportunity to buy with targets at 3,600 and 3,750.
We must pay close attention to this symmetrical triangle pattern to decide whether to buy or sell Ether. The Eagle indicator is giving a negative signal. It means a break below 3,400 could change the trend of ETH/USD.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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