ETH – Symmetric Patterns

Like Bitcoin, Ethereum is consolidating near the top of its 3 week long range. But unlike BTC, Ethereum is still undecisive under the symmetric Triangle Pattern. Symmetric patterns are formed when the chart makes lower highs and higher lows on a set timeframe. Breakout from these patterns can move both ways with similar momentum. Ethereum is caught under this pattern on the 4-hour time frame and can breakout in either direction from here. Support is at December 25th bottom of $3755 and resistance is at the top of $4263, fib 1.272 the price level from December 9.