ETHUSDT: Is the W Pattern Setting Up the Next Move?
$ETH has formed a clear W / Double Bottom structure on the 1D chart. Please trade it.
The key area was around $1,558, where price tested the lows twice and buyers stepped in. After reclaiming the neckline, ETH pushed higher and is now consolidating around $1,900โ1,950.
๐ Levels Iโm watching:
โข $1,997 โ major resistance / breakout level
โข $1,958 โ immediate resistance
โข $1,896 โ near-term support
โข $1,764 โ important support
โข $1,678 โ W-pattern / structural support
โข $1,558 โ double-bottom area
If ETH can break and hold above $1,997, the W-pattern could have room to continue playing out toward higher levels.
On the other hand, losing the key support zones would weaken the bullish setup.
For me, the important question is not โWill ETH go up?โ โ itโs whether price can turn resistance into support.
What do you see here: breakout or rejection?
#ETH #WPattern #DoubleBottom