Ethereum / TetherUSUpdated Ethereum (ETH) Forming Reversal Patterns with Bullish Potential
Head and Shoulders Formation: Ethereum recently completed a head and shoulders pattern, resulting in a corrective decline toward lower levels.
Double Bottom Pattern: A bullish double bottom is forming near the $2,918 support level, indicating a potential reversal zone for a long position.
- Key Levels:
- Resistance: $3,150 and $3,360 are crucial resistance levels to watch for a breakout.
- Support: $2,918–$2,881 is the primary support area and a potential accumulation zone.
- Projection: If the double bottom confirms, ETH could aim for a rally toward $3,360 and potentially higher. A failure to hold the support may lead to deeper retracement.
- Action Plan: Traders should watch for confirmation of the double bottom or rejection at resistance levels before entering positions.
Trade closed: target reached
the long position touched the target so far!
Note
toward the short targets
👉 my broker:: bit.ly/HYMCMELI
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telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.