[ETH] Chart Market Status

1D
The moving averages on the Ethereum daily chart are also tilting downwards just like Bitcoin.
Ethereum is still in a slightly better situation than Bitcoin.

The candles briefly broke to the downside, but the chart pattern also shows a Falling Wedge pattern, and it has risen back above the key support line of 2,879.

However, since the pattern is not complete before breaking above the downward trend line, the pattern can fail at any time before that.

4H
Even if it breaks above the downtrend line, there is a lot of resistance above. Please pay close attention to the area marked with the pink box.

Except for minor resistances, the important resistance range is

3,229
3,693

It seems that if it breaks 2,879, going long is risky.
Similar to Bitcoin, if Ethereum does not quickly break above major resistance levels, the year-end Santa Rally seems difficult.

Trading is not a world martial arts competition to see who can better grab the soles of their feet or who can better tap the crown of their head.
It's okay if you can't catch the soles.
It is more important not to lose.

The responsibility for all investments lies with the individual.
Please refer to this: )

#ETH # Ethereum #chart analysis