ETH idea sharing
Updated
ETH is effectively supported in the interval of 1744.60~1793.95, and a double bottom pattern appears. The current price breaks through the downward trend line, and the highest price reaches 1930.95.
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The target price of the double bottom can focus on 2001.90~2031.00, stop loss: 1756.
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The target price of the double bottom can focus on 2001.90~2031.00, stop loss: 1756.
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Comment
After breaking the trendline, ETH formed a double top pattern on the 1 hr chart and retraced below the trendline, reaching a low of 1837.40.
Currently, ETH has once again risen above the trendline and formed a inverse H&S pattern. Key levels to watch are:
1900.15
1905.50
1910.85
1928.20
Comment
After reaching the three mentioned price levels in the inverse H&S, ETH reached a high of 1914.80. Currently, the price has retraced to near the support trendline at 1794. If it breaks below the trendline, the double bottom pattern of ETH may become invalid.Pay attention to the support range: 1744-1794.
Comment
After falling below the mentioned trend line, ETH did not find effective support near 1744.60 and is currently around 1635.00, which is above the support trend line of the 1D inverse H&S.In the circled area on the chart, it can be seen that ETH has the potential to break below the support trend line. If it falls below, the following levels can be monitored:
1576.25
1487.30
1436.05
1408.45
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