Many Analysis like this have been done so I will save you the long story. On the 4hour chart a bullish upside down head and shoulders can be seen forming. However, with a bearish head and shoulders forming on a one hour chart, the possibly of the price touching the lower support before recovering seams likely.
As always be patient and see how it plays out.
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ETHUSDC - Potential Signal
ETH has bounced up a bit too much already, to say its a basic correction. At the neckline resistance again, but also not a lot of meaning that its there again after having dropped so much. So would say, at the moment, its more in the neutral zone.
Notice the divergence on this Daily chart as shown by the red trendlines. This suggests a sharp trend reversal is forthcoming which also supports Elliott count as a C corrective wave is expected in the count following this strong B Wave up. Look for favorable entry points in the $1000 - 1100 range which should allow traders to establish a profitable entry point...
ETH has triggered a buy signal today. ETH has ended and survived the short sellers.
next potential target is 480 and 600
Parabolic SAR has triggered a buy signal
RSI (15) is upwards from a drop from 40s
Much more juice in this run
This falling wedge will terminate and pump approx 40% of the overall height of the wedge then fall to a double bottom bounce slightly higher then the lowest point of the wedge. Then we will uptrend which will consist of three climbs after the double bottom pump. Each climb has a subsequent fall each being slightly more than the last with the 3rd fall being approx...
We are close to finalizing an H&S pattern on ETH/USDC. I wouldn't doubt a retest of the 200MA which coincides with the beginning of the neckline.
I will refill some ETH at this key level at around 175$USDC.
THIS IS NOT FINANCIAL ADVICE, INVEST DON'T GAMBLE :)