Hello friends, welcome to this ETH update from Crypto Sanders.
ETH/USDT Brief Update
Ethereum (ETH) is currently trading within a head and shoulders pattern on the 4-hour timeframe, as seen in the chart. Here are the key points:
ETH is showing a head and shoulders formation, which typically signals a potential bearish reversal.
Resistance and Support:
Around $3,950 to $4,000 (highlighted by the left and right shoulders).
Close to $3,640 (lower boundary of the pattern).
A breakout above the right shoulder (~$3,850) could lead to further gains.
A breakdown below the support level (~$3,640) would confirm the head and shoulders pattern, which signals a potential decline.
Monitor the $3,850 resistance level for signs of a breakout.
Keep an eye on a potential breakdown below $3,640 for bearish confirmation.
Stay tuned for further updates and analysis!
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
ETH/USDT Brief Update
Ethereum (ETH) is currently trading within a head and shoulders pattern on the 4-hour timeframe, as seen in the chart. Here are the key points:
ETH is showing a head and shoulders formation, which typically signals a potential bearish reversal.
Resistance and Support:
Around $3,950 to $4,000 (highlighted by the left and right shoulders).
Close to $3,640 (lower boundary of the pattern).
A breakout above the right shoulder (~$3,850) could lead to further gains.
A breakdown below the support level (~$3,640) would confirm the head and shoulders pattern, which signals a potential decline.
Monitor the $3,850 resistance level for signs of a breakout.
Keep an eye on a potential breakdown below $3,640 for bearish confirmation.
Stay tuned for further updates and analysis!
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
