ETHUSD Reversed H&Sis about to be formed

Current market fall caused by BTC price decrease affected ETH market. However this decline will form reversed H&S pattern. This combined with indicators status will force the price move up till it reaches previous heights. Before this happens we expect a little drop to Fib 0.786 support level around $640. Overall the market seems to be fine and should be bullish soon.

We still recommend to wait before open any new deals.

Comment:

The price moves higher, the pattern should be finished soon, if it coincides with BTC rise we should have a nice upward movement in price ETH too. However it seems like market players wish to see ETH price on a higher levels, TA indicators enhance this forecast

Comment:

ETH pice is about to touch Ichi clouds reversing point, up from which we expect a bounce and finishing of IHS pattern. However if BTC price continues to fall the ETH price will broke down the support and the pattern will be broken, then the recession to the previous year lows will start

Comment:

The price tests a very important resistnace level, in case of break through it we will have a nice growth.

Indicators are bullish and it seems that the whole crypto market is about to shift its trend