Elastos (ELA) After the FilDA Attack: Analyzing the Symmetrical Triangle Pattern
Author: Parker KellyElastos (ELA) price has been trading in a symmetrical triangle pattern since the start of the year and it currently stands close to its support line. Whether the price breaks down or bounces will determine the future direction of the trend. If the ELA price breaks down, a continued decrease to the $0.81 support area is to be expected. On the other hand, if it breaks out of the pattern, the price could increase up to the $2.68 level which is a Fibonacci resistance, and the length of the triangle projected to the breakout point.