Ethereum is forming a really strong major reversal signal with a head and shoulders formation. A break of major neckline support at 1096 (38.2% Fibonacci retracement, horizontal overlap support, neckline support) could trigger a strong move down towards 917 support (61.8% Fibonacci retracement, horizontal swing low support). If price breaks this major level of support, then our major resistance level would be at 1177 (Fibonacci retracement, horizontal overlap resistance).
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results