Rising wegdes usually break down and after we couldnt jump back in the pattern at the initial try the likeliness of us going lower was high.
Now there is multiple ways to do target analysis.
I’d say we just take the technical target of the rising wedge at around 32-38 sats.
On the other hand BTC Dominance keeps dropping pretty strongly and BTC also just broke 10k$ again. If BTC corrects anytime soon or has a longer sideways period that allows BTC dominance to drop even further that may give ETN and almost all alts plenty of room to grow.
Thats also the reason why I wouldnt bet on us reaching the target.
As for a trade. I dont see any entry points. I’d love to see reversal signs on the daily chart like a double bottom or a huge volume spike to think about buying in for a trade.
For the longterm believers right now is obviously a great time to buy more.
ETN is without a doubt cheap at the moment.
ETN BTC Daily Chart