ETH encountered resistance around the 2000 level in August, April, and July of last year (reaching a high of 2146), but failed to break through, forming a top pattern with the lowest price dipping to around 1470. After entering a consolidation phase, ETH started to rise in October, returning to near its previous high of 2146 in early November.
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Looking at the H4 chart:
A double top is observed, and currently, ETH is in a downtrend, with a potential lowest price in 1870~1886. If ETH can break the downtrend, possible upward targets to watch are:
2319.45
2471.75
2607.90
2744.00
3184.75
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Looking at the H4 chart:
2319.45
2471.75
2607.90
2744.00
3184.75
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Comment:
After ETH broke through the trend line, a cup-and-handle pattern appeared, with the highest price reaching 2407.60.
Although ETH fell by more than 5%, the price subsequently consolidated. ETH tested near 2320 twice before breaking through and exceeding the previous high.
Now that it has broken through the consolidation pattern of the rising relay, we can still continue to pay attention to the bull target of ETH.
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