Will ETH Breakout Before London Hard-fork Upgrade (EIP-1559) ?
ETH is following the king (BTC) as usual while still within a downtrend it seems to have formed a small " W-pattern " in a daily timeframe which looks quite enticing to breakout to the upside.
If it follows the pattern correctly then the upper lvls will soon be in it's range (Mentioned in green) and it will possibly start a new leg to the upper side.
Contrarily, failure can result in price drop and if inclined with BTC's inability to move to the upside together then naturally it will follow it to newer lower lvls.
One more thing to keep in mind is that by the end of JULY, we may witness some buying and price escalation as the London Hard-Fork (EIP-1559) will go live which proposes the solution that will help reduce the gas fees and transaction cost by 90% making the network more efficient and valuable.
What's your view on this ? Comment down and let me know.
BTC chart link -
If it follows the pattern correctly then the upper lvls will soon be in it's range (Mentioned in green) and it will possibly start a new leg to the upper side.
Contrarily, failure can result in price drop and if inclined with BTC's inability to move to the upside together then naturally it will follow it to newer lower lvls.
One more thing to keep in mind is that by the end of JULY, we may witness some buying and price escalation as the London Hard-Fork (EIP-1559) will go live which proposes the solution that will help reduce the gas fees and transaction cost by 90% making the network more efficient and valuable.
What's your view on this ? Comment down and let me know.
BTC chart link -
