ETH/USDT has broken its major support trendline but couldn’t sustain to stay above 200 MA for a long time. While posting this ETH is trading in a range market, making a bit dicy for confirmations. Looking at the chart patterns we could plot HEAD & SHOULDER pattern. Once the neckline is broken we can look for short position and target can be the length of the start...
If it sustains above the level of 1234 then can go long to 1260 followed by 1290.
If the price turns back from the important level of 1234 then the short target will be 1175 followed by 1150.