Ethereum: Trend Reversal Chart Pattern

The price bounced from the main downtrend line. After that, we got a lower swing high. The price is forming the Head & Shoulders chart pattern, which belongs to a trend reversal group of patterns.

If the price breaks the signal line of the pattern, it will be confirmed. The market will give us a strong bearish signal. The main target for the sellers will be at 215USD. The breakout below this support will open the road to 190USD.

The market will give us bullish signals if the price can stay above the key line of the pattern and break the main downtrend line.



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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.