Ethereum has trended downward into the $3100 handle, but appears to be making an attempt to test our levels from below. The levels $3200 and $3148 once provided support, but are now providing resistance. We do appear to have an inverse head and shoulders type pattern forming with a neckline at $3141. This could suggest a bottom for now and a breakout in the near future. Several green triangles on the KRI are confirming support at the head and shoulders of the pattern. If we are able to break out then $3324 is the next target. But if we reject the inverse H&S it is a bearish sign indeed and we can expect another run for the base of the $3K handle. If this does not hold then watch $2965 and $2852.
הערה:
Well we did see a breakout from the inverse H&S pattern discussed above, but that was quickly sold off with the dump in stocks. ETH quickly tested $2K's again, and I was ready to scoop some up. I am all about buying ETH at these levels. Still have some in the reserves for lower prices. Let's go $2K!!
Join my discord at discord.io/quantguy
