Eth has been trading in a symetrical triangle for quite some time. After trending down for 2.5 weeks we have had a very nice 3 day rally that magically stopped at the same resistance line that started the down trend. If price action continues to break down regardless of the recent bullishness resistance is resistance no matter how fast we get there.
With that...
Price manages to hold in as we look to test pattern resistance once again.
Be aware of a possible double-top scenario if we do happen to recover with neckline at the purple line.
All other assumptions remain per yesterday's post.
On the hourly chart of ETHUSD, there appears to be a H$S pattern developing, with 1720-1760 being a significant supply area.
The candle momentum around the 1680–1658 range is weak, as confirmed by the RSI RSX indicator showing weak pressure working in the lows of those candles.
1558 is the nearest target for a bias of 1475.09.
Pivot point: 1662
Currently: Consolidating at this 1553 level, its next support zone is 1494
Reaction: Resisted at 1820 and retraced back to 1770
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HEAD-AND-SHOULDERS TOP — Area Pattern which reverses an advance.
What Is Ethereum?
At its core, Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH).
Ethereum can be used by anyone to create any secured digital technology. It has a token designed...
Here we can see ETH's price action after CPI. This is an amazing pattern we have been following for a couple months now and yet again it called our recent top. Red circles have called the tops we price converging with ETH's downwards sloping trendline and green circles have called bottom with price converging with ETH's upwards sloping trendlines. This is an...
A shift in momentum triggers MACD convergence dropping us back within the prior ascending pattern; resistance has been adjusted per 3/13 post.
Consolidation can be noted between one of the long-term trendlines (purple) and 20EMA while the red line, or current 50EMA, still serves as a critical marker and average.
Dipping below yellow support may be indication of...
AS OF VITALIK exchanges ETH with the usdc and DAI the price gets rejection from the 1780 area NOW forming AN inverse H&S pattren BREAK Down of necline here are some of my targets of it with tight stop loss
Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also moved higher in the last 24 hours, hitting a seven-month high in the process.
Following a high of $1,779.92 yesterday evening, ETH/USD is now trading at $1,696.20, which is still marginally higher than Tuesday’s low of $1,668.69.
Yesterday’s high saw ethereum...
Although I was bullish since the beginning of the year, I also said that I don't think it will last and, as a lot were calling, this is the "start of a new bear run". Indeed,
The little brother of bitcoin managed to break above the top of wave (i) too, and the chart is almost identical as of now.
Like I said in bitcoin, we expect that a wave (c) will start in the next days and we will be curious if an expanded flat or a running flat will unfold.
Please note that we are already invested in Ethereum since the 15th of June, back then...
