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elfabiiani
Dec 8, 2022 5:01 PM

Ethereum technical analysis with USDT pair on Binance Short

Ethereum / TetherUSBinance

Description

Hello,

Today I will take a look at ETH / USDT pair on Binance in the 4h timeframe. Ethereum is right now trading at $1250. The demand zone is sitting around $1100, and the strong supply zone is around $1250. Even if we had a few days of slightly upward movement, I believe a pullback will occur and the bearish cycle will continue to be strong. I can spot the formatting of a rising wedge bearish continuation pattern, and this is the reason why I am expecting the price to move in the direction of a downtrend. I am expecting that Ethereum will be around $1100 until the end of the year, maybe sooner. My signal for trading ETH / USDT is to go short.

Enjoy and have an amazing day!

BF
Comments
kindCloud69172
thanks for your work, appreciate
elfabiiani
@kindCloud69172, Thank you! Enjoy max.
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