Blue line- neckline support
In a previous analysis we noted the formation of a potential Head and Shoulders pattern in Ethereum. Price made a lower high yesterday and is turning lower towards the important short-term neckline support. Support is found at $1,717-10 area. A break below this level will activate the H&S pattern and provide us with an important bearish signal. Price continues making lower highs which is a sign of weakness. Ethereum remains vulnerable to more downside as long as price is below $1,720.
Read more: https://www.instaforex.eu/forex_analysis/291786
Relevance up to 13:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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