After thorough analysis, it is apparent that the price of ETH has developed a Head and Shoulders pattern. In the event of a breach below the neckline, a substantial downward movement is anticipated. It is, therefore, advisable to closely monitor the neckline for any such movement.
Furthermore, based on the strong correlation between BTC and ETH, it is expected that the latter will follow a similar trajectory as the former. Given the likelihood of BTC decreasing from its present levels, ETH is expected to move downwards as well. Thus, it is reasonable to anticipate that ETH will break below the neckline and experience further downward movement.
Furthermore, based on the strong correlation between BTC and ETH, it is expected that the latter will follow a similar trajectory as the former. Given the likelihood of BTC decreasing from its present levels, ETH is expected to move downwards as well. Thus, it is reasonable to anticipate that ETH will break below the neckline and experience further downward movement.
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A different neckline:
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Similar pattern to BTC
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If DXY keeps the upward momentum, then ETH is going down!
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