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Ethereum: The Price is Seeking Support

Hello, my friends! My name is Ivan. I am a stock market trader and right now I am also trading cryptocurrencies. I want to share my Ethereum overview.

The price is forming so-called “head and shoulders” pattern. It’s not confirmed yet.

Negative scenario: If the price breaks the blue support line and forms a wave under that support, this support will become a resistance and the downtrend will be confirmed.

Positive scenario: If the price jumps above the blue support and stays above it — there is a chance for a positive move.

Personally, I believe in the negative scenario. If you see that the price stopped below the blue line and can’t go above it – it’s time to sell. Low risk and high reward potential.

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