ETHUSD is forming an overall head and should formation currently trading below the important 200- and 100- resistance. The head and should formation can currently break to the down or upside. Now their formation in ETHUSD has to confirm in one direction and show the breakout, a clear break of the the neckline will show and a move above the head will confirm the head and shoulder formation .
ETHUSD Price Chart
is sending moderate signs with a possibility of increased spread and oscillation in the oversold or overbought region.
is showing intertwined lines and can show up with a definite sign in the or direction.
For now, the head and should develop and show the proper breakout as ETHUSD is trading below the EMAs a breakout in the direction is more possible at the moment.
FORMATION: Head and shoulder
EXPECTATION: Confirmation of the head and shoulder formation
TREND AFTER CONFIRMATION: Either up or down
DAY’S RANGE: 223.53 — 229.93