After completing the Harmonic Bat pattern, the price encountered increased selling pressure. Over the past two years, it has never dropped below the 200-week moving average, which has acted as a strong support level. We need to see if it will hold again this time.
If the weekly candle close ends up below this moving average, it won’t be favorable for Ethereum. In that scenario, it might be wise to stay away from ETH for a while until a better technical setup emerges.
If the weekly candle close ends up below this moving average, it won’t be favorable for Ethereum. In that scenario, it might be wise to stay away from ETH for a while until a better technical setup emerges.
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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.