$ETH Price Prediction 02/02/2022

ETH rejected back below 2750 triggering convergence on H4 MACD + H4/H1 Chaikin crossovers; tentative resistance ~2675-2700 but critical will likely remain in this area. ***

Support kicking in around 50EMA (now ~2650) as we look towards a preferable hammer close on current candle; further extension to 2600 (prior breakout threshold) could still occur within this timeframe. I don't really see us entering the previous pattern (outlined purple) although another rejection at neckline could send us to long-term trendline (solid purple) sometime after.

A secondary ascending triangle has been highlighted off a slightly higher support line and 2800 resistance zone. This illustrates both the neckline and support gaps before a breakout could potentially happen. Note that a bearish breakout towards long-term trendline, as stated above, would not be a fully bearish scenario.

*** For yesterday's and today's posts, I want to clarify that the term 'critical' will now refer to any major support/resistance zone. The color indicators will remain the same, where red indicates that the zone is critical in reference to short-term + long-term growth/correction, and black is just in reference to short-term. Short-term will be defined as any period H4 and below, and long-term as D1 and above. Dashed lines will still be used for 'tentative' zones although they may just be referenced as support/resistance in the post.