#ETH Weekly Chart Update


This is looking like a weekly rejection off the upper trendline while in a bear flag. Last time we had a same structure, we saw it falling almost 40% in next 3 weeks.
The things in our favor is we have tapped the OB and FVG on the weekly and 88.2% on the fib retracement levels. Now we are holding above 78.6% above 2145 so far.
If #Ethereum breaks 2420, we will be in a bullish territory with targets of 27440 and 3160. If we break below 2140 and close below it on weekly, we target 1800 and 1600 and then we bounce off the lower OB.
My bias for $ETH now stays bullish because of the bullish breakout we got on #Bitcoin however if it fails, things might go south.
ETH-1.89%
BTC-1.77%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin