What are the potential price targets after a symmetrical triangle breakout in Ethereum?

3 answers

• May 01, 2022 · 3 years ago
  When Ethereum breaks out of a symmetrical triangle pattern, traders often look for price targets based on the height of the triangle. They measure the distance from the breakout point to the highest point of the triangle, and then add that distance to the breakout point to get a potential target. This method can provide an estimate of where the price might go after the breakout. However, it's important to note that price targets are not guaranteed and should be used as a guide rather than a definitive prediction.
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• May 01, 2022 · 3 years ago
  After a symmetrical triangle breakout in Ethereum, the price targets can vary depending on market conditions and investor sentiment. Some traders may set conservative targets based on previous resistance levels, while others may aim for more aggressive targets based on technical indicators or market trends. It's important to do your own research and consider multiple factors before setting price targets for your trades.
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• May 01, 2022 · 3 years ago
  After a symmetrical triangle breakout in Ethereum, BYDFi suggests that traders should consider setting price targets based on Fibonacci retracement levels. These levels are derived from the Fibonacci sequence and are commonly used in technical analysis. Traders can use tools or indicators to identify these levels and set their price targets accordingly. However, it's important to remember that price targets are not guaranteed and the market can always surprise us. Always use proper risk management and consider other factors before making trading decisions.
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