Ethereum price, highly correlating with Bitcoin, followed the upwards trend on 25th-26th of October.
The price crossed the level of $190 marking the high of the month.
After that, the price experienced decrease the $175 level with the further rebound from this level.
For now, the double top pattern is forming clearly on the 1H timeframe from 25th of October.
In case of the pattern formation, the bearish scanario is highly possible: Moving to $170 and then to $160 levels.
If not, the $190-$200-$230 levels are the bulls targets.
Currently, the price is fluctuating inside the neutral diapason of $175-190. Waiting its further steps to open a position.
The price crossed the level of $190 marking the high of the month.
After that, the price experienced decrease the $175 level with the further rebound from this level.
For now, the double top pattern is forming clearly on the 1H timeframe from 25th of October.
In case of the pattern formation, the bearish scanario is highly possible: Moving to $170 and then to $160 levels.
If not, the $190-$200-$230 levels are the bulls targets.
Currently, the price is fluctuating inside the neutral diapason of $175-190. Waiting its further steps to open a position.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.