Ether Leeum has no longer regained an important level and then appears to be another stage. With all the technologies toward the additional disadvantages, Etherrium prices are now risk of falling less than $ 4,000, which is difficult for bull in the last few months. Most of this is a seemingly simple formation, which is the head and shoulder pattern that shows the decline after the pattern is completed.
This head and shoulder pattern mean Etherrium price
Meliketrader, an encryption analyst, shared a chart on the TradingView website that shows the completed head and shoulder patterns on the Ether Reeum 4 -hour chart. The chart has begun to appear again in August, and the left shoulder appeared towards the middle of the moon. The head will appear at the end of August and the right shoulder will be formed in mid -September.
Interestingly, after the head and shoulder patterns were completed on the 4 -hour chart, Etherrium price was a big weak candle to take out the neckline. When this work is completed, we have confirmed that Altcoin is in danger of more disadvantages.
The neckline between $ 4,200 and $ 4,400 has keys here, and because Etherrium prices are once again re -tested, what happens here will determine where the price goes next. In the case of rejection here, Etherrium prices will have additional conflicts.
The price will drop to less than $ 4,000 because the demand is not high due to the collision in the neckline. Analysts occupy a range of 3,700 to $ 3,900 during this period, which aims to be about $ 3,850 during this period until the neckline is measured. Melikatrader said, “This level is also a natural magnet because it is also consistent with the last major resistance area.
Another development is that the RSI showed a divergence close to the head of formation. At this point, Altcoin is also a pointer that momentum can be slow at this point.
Hope for bulls
If Etherrium price changes here, you must successfully escape the neckline for $ 4,320 and $ 4,400. If Altcoin can be convicted over this supply area, the analyst thinks it will invalidate weak hair and shoulder papers.
The price of Etherrium is probably seen A Given that this is a significant bounce, especially now In the territory. Nevertheless, the analysts advise investors to manage the size adjustment and risk during this period.
DALL.E’s main image, TradingView.com chart
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