ETH-USDT(Inverted Head and Shoulder Breakout)
With the EIP 1559 proposal passed by the Core developers, it would bring a fundamental paradigm shift in the token economy of Ethereum, making it a Deflationary asset.
In 4 Hr Time Frame, ETH has formed an Inverted Head and Shoulders pattern. RSI is also signalling a divergence with the price which strengthens the view that ETH could propel to new highs. Closing above $1630 can initiate fresh buying due to the breakout from the pattern.
Key Levels to watch out:-
The support to the lower side is present at $1450 followed by $1370.
The resistance to the higher side is present at $1820 followed by $1940.
In 4 Hr Time Frame, ETH has formed an Inverted Head and Shoulders pattern. RSI is also signalling a divergence with the price which strengthens the view that ETH could propel to new highs. Closing above $1630 can initiate fresh buying due to the breakout from the pattern.
Key Levels to watch out:-
The support to the lower side is present at $1450 followed by $1370.
The resistance to the higher side is present at $1820 followed by $1940.
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.