Ethereum technical analysis with USDT pair on Binance
Hello,
Today I will take a look at ETH / USDT pair on Binance in the 4h timeframe. Ethereum is right now trading at $1250. The demand zone is sitting around $1100, and the strong supply zone is around $1250. Even if we had a few days of slightly upward movement, I believe a pullback will occur and the bearish cycle will continue to be strong. I can spot the formatting of a rising wedge bearish continuation pattern, and this is the reason why I am expecting the price to move in the direction of a downtrend. I am expecting that Ethereum will be around $1100 until the end of the year, maybe sooner. My signal for trading ETH / USDT is to go short.
Enjoy and have an amazing day!
BF
Today I will take a look at ETH / USDT pair on Binance in the 4h timeframe. Ethereum is right now trading at $1250. The demand zone is sitting around $1100, and the strong supply zone is around $1250. Even if we had a few days of slightly upward movement, I believe a pullback will occur and the bearish cycle will continue to be strong. I can spot the formatting of a rising wedge bearish continuation pattern, and this is the reason why I am expecting the price to move in the direction of a downtrend. I am expecting that Ethereum will be around $1100 until the end of the year, maybe sooner. My signal for trading ETH / USDT is to go short.
Enjoy and have an amazing day!
BF