EthereumUpdated ETH 1 HR Bearish Triangle, might retest
Following a bullish reversal, ETH surpassed $200 and bounced hard off $210. As a result, we now have a short term bearish triangle forming on 1 hour charts, flat bottom and angling down. Look for breakout of triangle. Our 190 support level and 210 strong resistance levels are still intact.
If this breaks down past 190, we could see price at $175. With a breakout upwards, it needs enough support to break 205 and 210 resistance levels, which are strong bearish lines developing from our last pennant formation.
If this breaks down past 190, we could see price at $175. With a breakout upwards, it needs enough support to break 205 and 210 resistance levels, which are strong bearish lines developing from our last pennant formation.
Note
Appears as if there is a bullish divergence appearing on the 1 hour charts, coordinating with lower lows. This thing might take off north again.
Note
Attempting breakout pattern from previous high again. Needs momentum to breakthrough the 200-210 resistance levels. Watch closely at this level.
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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.