Ether (ETH) has been trading below the moving averages, but the bears have not been able to push the price below the support line of the symmetrical triangle. This suggests that selling pressure is exhausted at lower levels.
ETH/USDT Daily Chart | Source: TradingView
Buyers will try to push the price above the moving average and start the journey towards the resistance line. Sellers will try to keep the price inside the triangle by defending the resistance line, but if the bulls break above this line, the ETH/USDT pair could rise to $2,850 and then $3,409.
On the other hand, if the price turns down from the moving average and drops below $2,300, it will suggest that bears are trying to take control. The pair could then drop to the support line.
