ðĨ Ethereum Looks Ready To Dump: Bearish Head & Shoulders
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ETH has been trading practically flat since the start of April, well over 4 months at this point. Similar to Bitcoin, ETH is trading alongside a strong diagonal support, keeping the bulls in power.
Looking at the chart, we can spot a classical Head & Shoulders pattern, which often signals an incoming dump. Wait for the price to close the daily (or higher timeframe) candle below the diagonal support (neckline) before considering an entry.
In case of a dump, consider to put your targets around 1620, 1370 or 1150.
ETH has been trading practically flat since the start of April, well over 4 months at this point. Similar to Bitcoin, ETH is trading alongside a strong diagonal support, keeping the bulls in power.
Looking at the chart, we can spot a classical Head & Shoulders pattern, which often signals an incoming dump. Wait for the price to close the daily (or higher timeframe) candle below the diagonal support (neckline) before considering an entry.
In case of a dump, consider to put your targets around 1620, 1370 or 1150.
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