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Ethereum (ETHUSD) chart patterns:1 hour tf

The 1 hour timeframe of Ethereum (ETHUSD) is shown in this analysis from June 29, 2018 till present date with chart annotations.

Ethereum technical analysis, Ethereum elliott wave analysis

Price action on July 31, 2018 breached the neckline of a complex, head and shoulder top formation, which is ideally a bearish pattern. Movement of price action below ~$438.97 confirmed the chart pattern and the pivot of the symmetric triangle at ~$404.64 is anticipated as a price level where Ethereum (ETHUSD) could retrace too and will be key for future price development.

Above all, the implication complex Head and shoulders top pattern is for Ethereum (ETHUSD) to move an equivalent distance downwards measured from the neckline to the head of the pattern and then projected below the neckline.

Interested in Bitcoin (BTCUSD)? Check out the free analysis here. Besides, price analysis of Ethereum Classic (ETCUSD) can be found here.

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One thought on “Ethereum (ETHUSD) chart patterns:1 hour tf

  1. […] active and has broken through support regions mentioned in the previous post on Ethereum mentioned here. Conservative long (buy) positions therefore should be considered only after a breakout outside of […]

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