ETHUSD is forming an overall head and should formation currently trading below the important 200- and 100- EMA resistance. The head and should formation can currently break to the down or upside.
Now ther formation in ETHUSD has to confirm in one direction and show the breakout, a clear break of the the neckline will show bearish and a move above the head will confirm the head and shoulder formation bullish.
RSI is sending moderate signs with a possibility of increased spread and oscillation in the oversold or overbought region. MACD is showing intertwined lines and can show up with a definite sign in the bullish or bearish direction.
For now, the head and should develop and show the proper breakout as ETHUSD is trading below the EMAs a breakout in the bearish direction is more possible at the moment.
TREND: sideway
FORMATION: Head and shoulder
EXPECTATION: Confirmation of the head and shoulder formation