Crypto-currency market: the etherium is forming the figure “head and shoulders”

The ETH/USD pair  continues to trade in a downtrend, thereby forming a reversal model of “head and shoulders” on the timeframe H4. After the decline at the start of the week, the pair was in the oversold zone, indicating correction and formation of the second shoulder. The neckline and sales area are located at the levels of 205,000-195,000, the breakout of which will indicate the test of support levels: 170,000 and 160,000. Resistance is located at the marks: 220.000 and 230.000.

ETH/USD chart. Current price – 203.000

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Andre Green

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