Ethereum / TetherUSShort
ETH Broadening Formation Breakdown
Ethereums daily chart has broke through the bottom of a broadening formation.
We can leverage the difference of the base and the max height to help determine our potential target price.
Considering this, we can expect a potential $100 swing downward towards $275.
Bulls will have several chances to change direction before this around the $325 and $300 mark, but these support levels are not the strongest. Price action could easily fall to through $325 closer to $300 and spark a rise in price but will it be enough? These may be potential areas of quick swings, but I am not a buyer unless we have confirmation closes over the 13/21 EMAs
We can leverage the difference of the base and the max height to help determine our potential target price.
Considering this, we can expect a potential $100 swing downward towards $275.
Bulls will have several chances to change direction before this around the $325 and $300 mark, but these support levels are not the strongest. Price action could easily fall to through $325 closer to $300 and spark a rise in price but will it be enough? These may be potential areas of quick swings, but I am not a buyer unless we have confirmation closes over the 13/21 EMAs
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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.