Ethereum 'head & shoulders' chart pattern puts ETH price at risk of dropping...
The bearish setup positions Ethereum price to extend the decline toward $2,000. Ethereum's native token Ether (ETH) rates may fall to a two-month low after it slid below support at around $2,954, based on a classic trading pattern.The $2,954 level represents a so-called neckline constituting a head and shoulders setup. In detail, the said support level appears to be a floor to three peaks, with the middle one (HEAD) higher than the other two (SHOULDERS). A breach below the $2,954 level signals a trend reversal, suggesting that ETH/USD may fall by a length equal to the distance between the....
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A confirmed head and shoulders pattern on SOL’s daily chart points toward a drop to $70. Solana (SOL) price may fall to $70 a token in the coming weeks as a head and shoulders setup emerged on the daily timeframe and possibly points toward a 45%+ decline.The chart below shows that SOL price rallied to nearly $217 in September 2021, dropped to a support level near $134 and then moved to establish a new record high of $260 in November 2021. Earlier this week, the price fell back to test the same $134-support level before breaking to a 2022 low at $87.73.SOL/USD weekly price chart featuring....
Key Highlights. Dash after trading lower found support around 0.0120BTC as forecasted in yesterday's post. It looks like it is forming a head and shoulders pattern, which might ignite a bearish wave in the short term. There are a few important things to note from the hourly chart of Dash, which points that if sellers gain control, more downsides are likely. Head and Shoulders Pattern. There is a monster support around 0.0120BTC, which acted as a barrier for sellers. Dash is currently moving back higher, but buyers need to be very careful as it looks like there is a chance of Head and....
Bitcoin Price Key Highlights. In the previous weekly analysis, we highlighted an inverse head and shoulders pattern, which played well and acted as a catalyst for an upside move. The price is currently trading in a positive zone, as it settled above the neckline of the inverse head and shoulders pattern. Bitcoin price after trading lower and finding support around 200.00 formed an inverse head and shoulders pattern for a move higher. Inverse Head and Shoulders Pattern. This past week we stated that the 200.00 support area was a major barrier for sellers that prevented more downsides and....
Key Highlights. Litecoin price is likely forming a head and shoulders pattern on the hourly chart (price feed from Bitfinex). If the highlighted pattern is valid, then the price may break lower and head towards the all-important $3.00 support area. There is a lot of bearish pressure, as our previously stated resistance at $3.20-30 continued to act as a barrier. Litecoin price may dive sharply moving ahead, as there is a bearish pattern (head and shoulders) forming on the hourly chart. Neckline Break Near? We mentioned in yesterday's post that Litecoin price may head lower as there was a....
A strengthening dollar could be negative for pretty much every risk asset on board, including Bitcoin, whose value boomed against the dwindling greenback after March 2020. Dollar traders have kept a close eye on a potentially bullish "inverse head-and-shoulders" pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin's (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range.Three troughs, one price ceilingIn detail, the inverse head-and-shoulders (IH&S)....