Ethereum had a slight downward correction yesterday after responding to the $ 4300 range. But it was supported at $ 4,200. Given that Bitcoin is highly correlated, at the same time as Bitcoin grew last night, Ethereum also experienced a small pump, and the price reached around $ 4,400.
In the Ethereum chart, like Bitcoin, a head-and-shoulder pattern is formed. But there is a fundamental difference with the Bitcoin chart. And that is that the head and shoulder pattern is confirmed in this diagram. So as soon as Bitcoin strengthens its support position, there is a possibility of another leap for Ethereum. And if the $ 4,400 resistance is broken, Ethereum's first target is the 4600 range and its second target is the previous highest ceiling and new ATH registration.
But in the pessimistic case, if Bitcoin breaks its support again, and falls, Ethereum can also break the support of its dynamic trend line and return to the $ 4,000 range. Of course, this time too, it will be very difficult to defeat this support. Unless there is a strong fear in the market and the sellers try to get their profits from the market. Even in the pessimistic state, it is an uptrend, and if a downturn occurs, it is an opportunity to buy again, as in previous days.
zoomarz.com
In the Ethereum chart, like Bitcoin, a head-and-shoulder pattern is formed. But there is a fundamental difference with the Bitcoin chart. And that is that the head and shoulder pattern is confirmed in this diagram. So as soon as Bitcoin strengthens its support position, there is a possibility of another leap for Ethereum. And if the $ 4,400 resistance is broken, Ethereum's first target is the 4600 range and its second target is the previous highest ceiling and new ATH registration.
But in the pessimistic case, if Bitcoin breaks its support again, and falls, Ethereum can also break the support of its dynamic trend line and return to the $ 4,000 range. Of course, this time too, it will be very difficult to defeat this support. Unless there is a strong fear in the market and the sellers try to get their profits from the market. Even in the pessimistic state, it is an uptrend, and if a downturn occurs, it is an opportunity to buy again, as in previous days.
zoomarz.com