EthereumUpdated ETH - Price Analysis
There's a wonderful inverse head and shoulders currently taking shape on the daily chart. IH&S patterns are trend reversal, breakout patterns.
If the price runs up the right shoulder, consolidates, and breaks above the neckline on the other side. That would be taken as a confirmation of trend reversal.
However, one should keep in mind that this is a long forecast and would not be confirmed until 7/19.
Tenkan/Kijun are both ranging meaning less volatility/momentum.
My TRIX is smoothed out to have very accurate buy signals. We currently see a bull cross taking place for a buy which further confirms this chart pattern.
Stochastic RSI would need to continue it's rise, test the resistance at ~80 before bouncing off support at 34.
If the price runs up the right shoulder, consolidates, and breaks above the neckline on the other side. That would be taken as a confirmation of trend reversal.
However, one should keep in mind that this is a long forecast and would not be confirmed until 7/19.
Tenkan/Kijun are both ranging meaning less volatility/momentum.
My TRIX is smoothed out to have very accurate buy signals. We currently see a bull cross taking place for a buy which further confirms this chart pattern.
Stochastic RSI would need to continue it's rise, test the resistance at ~80 before bouncing off support at 34.
Note
Pattern confirmation should take place in the next 48 hours.
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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.
Join The Spekre ACS Creator Pool and gain access to exclusive trading indicators, copy trading, exclusive content, and more tools in the future! Link: hub.accessprotocol.co/creators/J8TpW6cypxheFUYjWn4mxS6ExvBEMxyMiRvrf43Nhnvy
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.