Ethereum Long Term Analysis!
Ethereum Monthly Analysis!
Bearish Pennant PAttern formation in Ethereum on Monthy Timeframe!
If price breaks and closes below trendline support we can see further downmove in Ethereum
Ethereum is forming Bearish Pennant pattern. We can see a sharp downmove in Ethereum from 1 dec 2021 after that price is moving in that way like it is forming a Triangle. So the pattern is established. Many of us won't believe for a Ethereum to move this much downward upto 456.75USD. But it's all about Technical Analysis and Pattern identification. I have identified this pattern on Monthly Timeframe. This is how we identify pattern on various timeframe. Greater the timeframe more reliable it would be, So i have done my analysis on Monthly timeframe to predict long term move of an Ethereum. Crypto is very uncertain instrument so we can't imagine how it will move, right? But this is how we perform technical analysis! That's all i have to say!
The downward possible target for an Ethereum is 456.75 USD!
Ethereum Monthly Analysis!
Bearish Pennant PAttern formation in Ethereum on Monthy Timeframe!
If price breaks and closes below trendline support we can see further downmove in Ethereum
Ethereum is forming Bearish Pennant pattern. We can see a sharp downmove in Ethereum from 1 dec 2021 after that price is moving in that way like it is forming a Triangle. So the pattern is established. Many of us won't believe for a Ethereum to move this much downward upto 456.75USD. But it's all about Technical Analysis and Pattern identification. I have identified this pattern on Monthly Timeframe. This is how we identify pattern on various timeframe. Greater the timeframe more reliable it would be, So i have done my analysis on Monthly timeframe to predict long term move of an Ethereum. Crypto is very uncertain instrument so we can't imagine how it will move, right? But this is how we perform technical analysis! That's all i have to say!
The downward possible target for an Ethereum is 456.75 USD!
Trade closed manually:
Pattern Failure!
Avinash K.