Resistance holds in at 3210 creating another step which may drop us back to short-term EMAs. A third step can be assumed off this formation and would likely be enough to break zone. With 200EMA at the lower boundary we can expect increased resistance moving forwards. If true, there's a chance this alignment could last until the 3370-pattern...
ETH remains above the daily close goal as short-term EMAs begin to close in. Successful divergence could push us past 3210 right to 200EMA/lower pattern support boundary. The next D1 goal is around 3370 which would place us at pattern support EOW. www.tradingview.com
A solid recovery positions ETH above the new D1 goal with about 1/2hr left until close. 50EMA is also around this zone which should strengthen support if a flip is successful. We could be looking at continuation to 200EMA in the near future. www.tradingview.com
A successful 4/18 close jumpstarts what may be the start of recovery given our hold at 3k. Look to keep above the daily marker (3035) for an attempt at short-term EMA divergence. The next critical resistance is expected at 3210 unless we push straight to pattern/200EMA. www.tradingview.com
ETH recovers to 3k after another correction at low 2900s. Daily close has been adjusted to mark a shorter-term bullish goal. Failing to keep above 3k could result in a drop to the next critical at 2750. www.tradingview.com
Late post but a possible double-bottom could be forming given the hold at 3k. This could also just be a temporary push so we should look to flip the prior D1 marker (green). imo I believe we're in for another correction but anything can happen in this market. www.tradingview.com
ETH closes weekly just below the new goal line but with enough momentum to reach lower pattern boundary. With retraction back to previous lows we are in position for a possible inverse head-and-shoulders recovery. Look to maintain daily (1.5hrs) around 3090-3100. If not, expect a drop below 3k. www.tradingview.com
Price remains above 3k but presents a down-step pattern which could lengthen correction to 2750. Weekly close is likely not happening so it's been adjusted to 3180 for an early inverse head-and-shoulders possibility. A double-bottom off ~3k could also provide the same result; just look to keep closes above previous lows. www.tradingview.com
ETH manages to keep above 3210 critical but is unable to re-enter pattern likely indicating the start of a bearish cycle. Remember that today's close goal is at the orange intersection which seems improbable given our current position. From a long-term standpoint, continuation to 3k appears to be the better suited scenario however anything can happen during...
A hard rejection at 200EMA sends ETH into the 3000s before recovering back to 3210 critical. Current candle close is expected to be within the support boundaries but weekly recovery (green intersection) is now a distance away. Failing to reach this goal may result in subsequent consolidation within the lower half of pattern leading to eventual...
A strong hold at 50EMA keeps us close to the weekly close goal (solid green) with current price inside the W1 neckline zone (red highlight). Given recent lows we can expect a decent level of support at 3405 if another correction occurs. Regardless of position remember that the overall goal is to close above 3550 EOW. www.tradingview.com
An unfortunate breakdown sends ETH back to EMAs after failing to flip pattern resistance. Price still holds above 3500 but remains at the lower W1 neckline and below the W1 goal. Recovery through a hammer close is possible but further correction seems better suited. www.tradingview.com
A strong recovery breaks ETH out of ascending pattern with a few closes already established above zone. Look to continue momentum off 50EMA divergence, noting the next critical resistance at 3810. The weekly goal (green intersection) remains in play as this could still just be an outlier. www.tradingview.com
ETH finds its way back above 200EMA with EMA divergence closing in. Keep an eye on W1 neckline (3520-3580) as a critical resistance point prior to 3685. The new weekly goal has been outlined which is still held within pattern. www.tradingview.com
ETH holds in at 20EMA increasing the odds of eventual recovery. Flipping 50EMA is the current goal with 3405 alignment also in play. The W1 piercing marker (3685) is still our main goal in attempting another push to 4k+. www.tradingview.com
ETH drops just below pattern support before recovering back to 20EMA. Look to hold momentum towards 3405 to prevent 50EMA crossover + further EMA convergence. Be aware of the possibility of a hanging man reversal on D1. www.tradingview.com
A slight double-bottom brings ETH to 200EMA yet fails to hold momentum for a successful flip. Correction back to pattern support can be expected in an attempt at a larger-scaled double-bottom; this would place the next recovery around EOW. Today's view has been switched to H4 for a new perspective and clarification on recent pattern boundaries. Note that 200EMA...
Price begins to recover but is rejected at 50EMA dropping us back towards pattern support. A double-bottom formation is now being assumed with neckline remaining at 50EMA. Look to avoid crossover of 200EMA and 3405 due to added resistance at a critical zone. www.tradingview.com