Possible Head and Shoulders for ETH USDT spotted (BEARISH?)
A potential head and shoulders pattern is forming on the ETH/USDT chart, sparking concerns of a bearish reversal. This classic technical analysis signal often indicates a shift from an uptrend to a downtrend. Traders are closely monitoring key support and resistance levels to confirm whether this pattern plays out, potentially signaling a sell-off in Ethereum's price. Could this be the start of a bearish move, or will ETH break through and invalidate the setup?
If it breaks upwards, the next resistance level is around 3.88K, start taking profits after it reaches 3.8k
THIS IS NOT A TECHNICAL ADVICE
PROCEED WITH CARE
If it breaks upwards, the next resistance level is around 3.88K, start taking profits after it reaches 3.8k
THIS IS NOT A TECHNICAL ADVICE
PROCEED WITH CARE
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.