Will ETH continue to rise?
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In a previous article, it was mentioned that ETH had the opportunity to reach several support levels after falling below the range. After reaching a low around 1820, ETH rebounded upwards. The chart also shows a pattern similar to an inverse H&S around 1820.
Currently, it is still worth paying attention to the target range:
2000~2031
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Looking at the D3 chart, the main resistance level is at 2031:
2031 is the neckline level of a large bottom pattern.
Based on the circled area in the chart, the last time ETH encountered a engulfing pattern at 2031, it was followed by a downward trend.
It is worth observing the price behavior of ETH if it reaches the resistance zone of 2000~2031 again.
Note
ETH update:
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