Ethereum has made a diamond pattern and it could go down to 3500-3400 once again!
A diamond top formation is a chart pattern that can occur at or near market tops and can signal a reversal of an uptrend.
A diamond top formation is so named because the trendlines connecting the peaks and troughs carved out by the security's price action form the shape of a diamond.
Technicians suggest that to calculate the potential move, once the neckline of a diamond formation is broken, you would calculate the distance between the highest and lowest point in the diamond formation and add it to the breakout point.
A diamond top formation is a chart pattern that can occur at or near market tops and can signal a reversal of an uptrend.
A diamond top formation is so named because the trendlines connecting the peaks and troughs carved out by the security's price action form the shape of a diamond.
Technicians suggest that to calculate the potential move, once the neckline of a diamond formation is broken, you would calculate the distance between the highest and lowest point in the diamond formation and add it to the breakout point.
