ETHUSDis forming an overall head and should formation currently trading below the important 200- and 100- EMA resistance. The head and should formation can currently break to the down or upside. Now their formation in ETHUSDhas to confirm in one direction and show the breakout, a clear break of the the neckline will show bearish and a move above the head will confirm the head and shoulder formation bullish .
ETHUSD Price Chart
RSI is sending moderate signs with a possibility of increased spread and oscillation in the oversold or overbought region. MACD is showing intertwined lines and can show up with a definite sign in the bullish
or bearish direction.
For now, the head and should develop and show the proper breakout as ETHUSDis trading below the EMAs a breakout in the bearish direction is more possible at the moment.
FORMATION: Head and shoulder
EXPECTATION: Confirmation of the head and shoulder formation
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at email@example.com