Ethereum (ETH) Forming Reversal Patterns with Bullish Potential

11月16日

Head and Shoulders Formation: Ethereum recently completed a head and shoulders pattern, resulting in a corrective decline toward lower levels.

Double Bottom Pattern: A bullish double bottom is forming near the $2,918 support level, indicating a potential reversal zone for a long position.

1. Key Levels:
   
2. Resistance: $3,150 and $3,360 are crucial resistance levels to watch for a breakout.
   
3. Support: $2,918–$2,881 is the primary support area and a potential accumulation zone.
   
4. Projection: If the double bottom confirms, ETH could aim for a rally toward $3,360 and potentially higher. A failure to hold the support may lead to deeper retracement.
   
5. Action Plan: Traders should watch for confirmation of the double bottom or rejection at resistance levels before entering positions.
   

11月16日

交易結束：目標達成

the long position touched the target so far!

11月17日

註釋

toward the short targets