ETH pullback to $1.880

2月8日

Since the end of October 2023, ETH made quite a move. The price rose in a channel almost until the end of Feb '24. The price then broke the channel to the downside and formed a bearish flag corresponding to the final part of the H&S pattern, the right shoulder. Both patterns lead us to a very similar target of 1.880 and 1.823$. We are also witnessing a bearish cross on EMA's 20/50. That makes me believe, that the price of ETH could continue to descend to this target.

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Take care!