ETH/USD looking to break higher from falling wedge, WEEKLY(ending diagonal) From point E (14th May, 2022)
- :
Attached is the chart of ETHEREUM weekly working inside falling wedge (perfect ending diagonal) looking to break higher after recent sell off in all crypto currencies. Look at the point E for the upside trend resuming again. supports are near 1750-1788 for the break upwards.
below is the same weekly chart with alternative scenario forming Head & Shoulders top pattern. confirming with the higher volume on left shoulder then diminishing as pattern develops. But look at horizontal blue support lines that are hard to break so bias is upwards clearly.
PLAN:- buy between 1780-1823 for the targets of 3200 (1st) 4400 (2nd) & ultimately multi year target of 5200 (final) Stop loss being 1200.
Risk reward ratio is 1:5 .