Inverse Head and Shoulders In Ethereum??

23 Feb 2022

Ethereum pressed lower, but found support at $2556, a level we have called out here. We have subsequently seen a nice pivot back to relative highs at $2762, which may be the neckline of an inverse head and shoulders pattern (in the making). The Kovach OBV has lifted slightly, nothing to support bullishness yet, but it could suggest that we have bottomed out in this bear rout. If we are able to break higher, then $2852 and $2965 are the next targets. If we retrace again, $2556 should provide support, then $2454.