ETHUSD head and shoulder pattern

ETH -0.42%is making a clear head and shoulder pattern, we are at the end of the second shoulder, if it does not find support at the 200 SMA then it is game over.

this is not a financial advise by any means, it only reflect my personal analysis.

Kommentar:

we are finding support at the neck line with a piercing candlestick however we lack support from a key level like 200 sma. we need to see a break from descending channel and 900, if that happens next levels are 1000, 1200 and 1400. it would then also form a cup and handle pattern like BTC and shoot up from there.

another scenario it falls to 200 sma level which we need to watch carefully.

this is not a financial advise by any means, it only reflect my personal analysis.