Ethereum at a Critical Turning Point: Head & Shoulder Pattern
Ethereum Technical Chart Study
Ethereum is showing some interesting price action. It recently took resistance from its resistance zone and is now forming a classic Head & Shoulder pattern—a structure often signaling potential reversals.
Currently, the price is sitting right at the neckline of the Head & Shoulder pattern. If this neckline breaks, it could lead to further downside movement.
Looking below, there’s some key support to watch:
1. The 2800 resistance zone, which Ethereum broke out of earlier, hasn’t been tested yet. This zone might now act as a strong support if the price moves downward.
2. There’s also a trendline support in play, adding another layer of potential price stability.
So, what’s next?
If Ethereum breaks the neckline, we could see the price fall towards the 2800 zone or possibly to the trendline support. These are the levels to keep an eye on for the next big move.
Ethereum is showing some interesting price action. It recently took resistance from its resistance zone and is now forming a classic Head & Shoulder pattern—a structure often signaling potential reversals.
Currently, the price is sitting right at the neckline of the Head & Shoulder pattern. If this neckline breaks, it could lead to further downside movement.
Looking below, there’s some key support to watch:
1. The 2800 resistance zone, which Ethereum broke out of earlier, hasn’t been tested yet. This zone might now act as a strong support if the price moves downward.
2. There’s also a trendline support in play, adding another layer of potential price stability.
So, what’s next?
If Ethereum breaks the neckline, we could see the price fall towards the 2800 zone or possibly to the trendline support. These are the levels to keep an eye on for the next big move.
Dagangan ditutup: sasaran tercapai
As predicted in my Ethereum Technical Chart Study, the price dropped exactly to the trendline support. 🔥
That means our sell target is done! ✅
Hope you all made the most of this move. Let’s see how the price reacts from here—bounce or breakdown? Stay tuned! 🚀
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.