ETH Inverse Head and Shoulders targeting 3K
Looking at the daily chart, we can see that ETH remains above the 200EMA unlike BTC which has been under its 200EMa on daily for over 52 days now.
There is a clear right shoulder possibly in the making now to complete an inverse head and shoulders pattern with a technical target of around 3K
RSI support is shown as a dashed green line and would be important to hold. The last few candles on smaller time frames have been bullish so we have fair chances for price to continue up. We also see the bottom of channel above the head to be quite reactive and holding as decent support with the top of the channel acting as the neckline.
Will update as necessary
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There is a clear right shoulder possibly in the making now to complete an inverse head and shoulders pattern with a technical target of around 3K
RSI support is shown as a dashed green line and would be important to hold. The last few candles on smaller time frames have been bullish so we have fair chances for price to continue up. We also see the bottom of channel above the head to be quite reactive and holding as decent support with the top of the channel acting as the neckline.
Will update as necessary
Trade Safe
BiloCrypto