The view of ETH
Weekly logarithmic chart (left):
After forming a high of 1419.96 in 2018, it fell, and the price got out of the large double bottom pattern and broke upwards, reaching the highest point at 4867.81.
ETH is still below the resistance trend line on the weekly chart. Although the price rebounded after reaching the support range of 804.59~1124.23, the highest reached 2031.39. However, the subsequent engulfing pattern showed that ETH did not reverse the trend, and the price continued to fall.
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If ETH can test the resistance range 804.59~1124.23 again and form an effective support, it will be more appropriate to rise again.
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Four-hour chart (right):
The H&S bottom pattern has not yet expired, and the price has not fallen below the right shoulder of 1489.98. The price is still above the support trend line and there is still a chance to reach 1851.26 and 1952.90.
If the price returns to above the neckline of 1686.82 again, you can set a stop loss at 1558.35 and take profit at 1851.26 and 1952.90.
If the price falls below the support trend line, pay attention to the support below 1356.30~1440.63.
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After forming a high of 1419.96 in 2018, it fell, and the price got out of the large double bottom pattern and broke upwards, reaching the highest point at 4867.81.
ETH is still below the resistance trend line on the weekly chart. Although the price rebounded after reaching the support range of 804.59~1124.23, the highest reached 2031.39. However, the subsequent engulfing pattern showed that ETH did not reverse the trend, and the price continued to fall.
-
If ETH can test the resistance range 804.59~1124.23 again and form an effective support, it will be more appropriate to rise again.
-
Four-hour chart (right):
The H&S bottom pattern has not yet expired, and the price has not fallen below the right shoulder of 1489.98. The price is still above the support trend line and there is still a chance to reach 1851.26 and 1952.90.
If the price returns to above the neckline of 1686.82 again, you can set a stop loss at 1558.35 and take profit at 1851.26 and 1952.90.
If the price falls below the support trend line, pay attention to the support below 1356.30~1440.63.
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