If This head and shoulders pattern plays out on the daily chart....
I can see Eth going to $1600.
RSI is is also on a downtrend.
ETH is Trading Below the 200 MA.
All Bad signs.
IF ETH can get enough buying pressure to break the downtrend, then this could be a decent rally back to $3050.
Ill be watching the 1Hr Chart for break out either way.
I'm guessing within the week or so.
I can see Eth going to $1600.
RSI is is also on a downtrend.
ETH is Trading Below the 200 MA.
All Bad signs.
IF ETH can get enough buying pressure to break the downtrend, then this could be a decent rally back to $3050.
Ill be watching the 1Hr Chart for break out either way.
I'm guessing within the week or so.
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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.