ETH pullback or potential to break?
#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.
#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.