HomeUncategorizedWhat is an ascending triangle pattern and how to trade it? By Cointelegraph

What is an ascending triangle pattern and how to trade it? By Cointelegraph

January 28, 2023

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© Reuters

Market analysts rely on many technical indicators to anticipate future trends, one of which is the very-popular ascending triangle chart pattern.

As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance.

three-day price chart featuring ascending triangle breakout. Source: TradingView
three-day price chart featuring ascending triangle breakdown. Source: TradingView
ETH/USD daily price chart featuring ascending triangle reversal. Source: TradingView
Ascending triangle pattern breakout target illustration.
Ascending triangle pattern breakdown target illustration.

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