ETH-USDT(Inverted Head and Shoulder Breakout)
With the EIP 1559 proposal passed by the Core developers, it would bring a fundamental paradigm shift in the token economy of Ethereum, making it a Deflationary asset.
In 4 Hr Time Frame, ETH has formed an Inverted Head and Shoulders pattern. RSI is also signalling a divergence with the price which strengthens the view that ETH could propel to new highs. Closing above $1630 can initiate fresh buying due to the breakout from the pattern.
Key Levels to watch out:-
The support to the lower side is present at $1450 followed by $1370.
The resistance to the higher side is present at $1820 followed by $1940.
In 4 Hr Time Frame, ETH has formed an Inverted Head and Shoulders pattern. RSI is also signalling a divergence with the price which strengthens the view that ETH could propel to new highs. Closing above $1630 can initiate fresh buying due to the breakout from the pattern.
Key Levels to watch out:-
The support to the lower side is present at $1450 followed by $1370.
The resistance to the higher side is present at $1820 followed by $1940.