Ethereum has regained the $3K handle after breaking down from our head and shoulders pattern, testing $2852. We saw strong support here from several green triangles on the KRI, and support held strong until another wave of momentum took us back to the $3K's, past the neckline of our head and shoulders pattern at $3042. Currently, we are just above this level, meeting resistance just below the next target of $3148. We are seeing several red triangles on the KRI throughout this rally, suggesting that momentum may be weakening. If so, anticipate support at $2965 or $2852 again. If not, then $3324 is the next top, a relative high and the "head" of our head and shoulders pattern.
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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.