According to the chart, ETH is testing the bottom of the uptrend channel (Blue channel). However, it might be broken to the two different static supports which are defined in pink.
Supporting in uptrend channel, price will reach the middle and top of the channel. Breaking this support line, forms a double top pattern.as a result the price decrease to pink support areas
Supporting in uptrend channel, price will reach the middle and top of the channel. Breaking this support line, forms a double top pattern.as a result the price decrease to pink support areas
Note
by the current price reduction, I expect that ETH reach the red line where indicates POC
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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.