Overview: The chart displays a bearish outlook for Ethereum (ETH/USD) based on technical price action. The current market price is around $1,584, with a potential bearish pattern developing after a series of lower highs and horizontal support tests.
Forecast: The projected price path suggests a short-term consolidation or minor bullish correction before a significant downward move, potentially forming a lower low.
🔻 Target:
$1,353.99
This is the projected take-profit level marked by the large green area at the bottom of the chart.
🔺 Stop Loss:
$1,678.63
This is the invalidation level for the bearish outlook, marked by the red zone on the upper side.
Technical Notes:
The chart appears to incorporate a head-and-shoulders-like pattern.
There's a breakdown from a trendline and repeated rejections at lower highs.
The pattern suggests potential for a drop toward the $1,350 zone if support around $1,500 fails.
📢 Disclaimer: This analysis is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any financial instrument. Always conduct your own research or consult with a licensed financial advisor before making trading decisions. Markets are volatile and trading carries risks.
Forecast: The projected price path suggests a short-term consolidation or minor bullish correction before a significant downward move, potentially forming a lower low.
🔻 Target:
$1,353.99
This is the projected take-profit level marked by the large green area at the bottom of the chart.
🔺 Stop Loss:
$1,678.63
This is the invalidation level for the bearish outlook, marked by the red zone on the upper side.
Technical Notes:
The chart appears to incorporate a head-and-shoulders-like pattern.
There's a breakdown from a trendline and repeated rejections at lower highs.
The pattern suggests potential for a drop toward the $1,350 zone if support around $1,500 fails.
📢 Disclaimer: This analysis is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any financial instrument. Always conduct your own research or consult with a licensed financial advisor before making trading decisions. Markets are volatile and trading carries risks.
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.
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.