Ethereum comprehensive analysis (4H)
Past:
As you can see in the chart, after forming head and shoulders pattern and break the neckline (red square) price has been declined down to the specified target (around 500$). Then bullish trend has started and raised to 0.382 Fibonacci level and touched the downward trend line (red line). At this point it is the intersection between downward trend and upward trend (dark blue line).
Future:
Current price of the Ethereum is very important because the price is jailed between the corner of downward trend line and upward trend line.
Two probable scenarios are:
1- In case of keeping up the upward trend and breaking out of the downward trend, target prices would be: 625,660,700 USDT
2- In case of breaking the upward trend line and keeping the price below the upward trend line, first target would be decline down to 500 USDT.
Past:
As you can see in the chart, after forming head and shoulders pattern and break the neckline (red square) price has been declined down to the specified target (around 500$). Then bullish trend has started and raised to 0.382 Fibonacci level and touched the downward trend line (red line). At this point it is the intersection between downward trend and upward trend (dark blue line).
Future:
Current price of the Ethereum is very important because the price is jailed between the corner of downward trend line and upward trend line.
Two probable scenarios are:
1- In case of keeping up the upward trend and breaking out of the downward trend, target prices would be: 625,660,700 USDT
2- In case of breaking the upward trend line and keeping the price below the upward trend line, first target would be decline down to 500 USDT.