Main Quotes Calendar Forum
flag

FX.co ★ Technical analysis on Ethereum for October 7th, 2022.

parent
Crypto Analysis:::2022-10-07T13:03:16

Technical analysis on Ethereum for October 7th, 2022.

Technical analysis on Ethereum for October 7th, 2022.

Blue line- neckline resistance

Red lines- Fibonacci extension targets

Ethereum is trading around $1,330. Price has mostly been moving sideways the last few weeks and bulls are unable to push price higher than $1,420. Price remains below the broken neckline of the Head and Shoulders pattern.The neckline at $1,470 is key resistance. Our $1,175 target remains intact, but taking into consideration the current price formation, a break below recent lows of $1,245, will lead to a deeper decline towards June lows at $900-$880.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...