also in the case of ethereuem We can Imagine a scenario similar to Bitcoin for Ethereum , but in previous analysis we saw this clear head-shoulder pattern and predicted a downtrend, and we saw that after a heavy fall, there was a support here and it has recently grown, which can continue to rise to the midline of this channel , it is also possible to breakout this midline but less likely will happen and then continue to rise and may have a pullback to a higher resistance zone then fall again . but in another scenario It can fluctuate between midline and current support zone for awhile ,then fall to a lower support zone if it loses current support .
today in this chart perspective ,
We see that in this area of Pivot, between $ 1770 and $ 2,000 ,is supported by the Bulls. If it can close this weekly candlestick above this pivot area, it could rise to the next resistance level or maybe even see higher zones in the mid-term or maybe short-term .
But keep in mind that the overall market trend in the long-term view is still bearish , and as the price rises, bears reappear, which could push the price to the previous support level or even the lower support area.
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
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