ETH pullback or potential to break?
Updated
#ETH/USDT
ETH touched the support zone as expected in my last analysis and rejected touching the broken ascending trend zone, which is the same as the long-term resistance zone.
🐻 so if it would be just a pullback move to confirm the support as resistance, then price may drop from this zone and break below the support zone.
🐮 but if price breaks out from resistance zone we can expect another leg up toward $2000.
ETH touched the support zone as expected in my last analysis and rejected touching the broken ascending trend zone, which is the same as the long-term resistance zone.🐻 so if it would be just a pullback move to confirm the support as resistance, then price may drop from this zone and break below the support zone.
🐮 but if price breaks out from resistance zone we can expect another leg up toward $2000.
Comment
#ETH/USDT#update
ETH in a short time frame shaped an inverted head and shoulders pattern and broke out from the neckline.🐮 after a pullback to the broken neckline, we can expect price increase toward the resistance zone between $1740 and $1780.
🐻as we are in a boring sideways move, so price may reject from ascending resistance zone and drop to the support zone.
Related publications
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.