Ethereum Possible Next Moves
Updated
I've updated my Ethereum chart. The red-orange down arrow turned out to be quite accurate, with the price meeting the yellow downtrend line (but only on the 1 and 2 hour, candle-wick only on the 4hr). Here I present with the orange arrows a potential pattern that plays out in the remaining price lines.
Ethereum continues to remain under the EMA 200 and also out of the Bollinger bands (Std. Dev. 1), which supports a further drop as I've mentioned in previous charts.
Ethereum continues to remain under the EMA 200 and also out of the Bollinger bands (Std. Dev. 1), which supports a further drop as I've mentioned in previous charts.
Comment
Third arrow still being followed down.Comment
My general pattern here is correct. I seem to have indicated the high points but not the low however. The low points did not go as low as I expected they would. There is some potential now however that we go to a significant drop from this point on (as I've indicated), since ETH has failed to break through and up twice now (see the double-top). Signs point to continued decline.Comment
I expected bigger bounces with the arrows, but there were similar, but shorter bounces nonetheless. Right now Ethereum is dropping along the indicated line, about to break the yellow and quite likely into the orange.Comment
General trends turned out to be accurate, lows arriving a bit earlier than anticipated, but reacting to realistic areas (price lines). Overall, good prediction. Waiting to see if the rest plays out or if we have some more bouncing as we fall.Comment
This chart has been a good indicator for the predictive movement of Ethereum. You may ask why I just have one long arrow going down at the end, and that is because the supports going down are few and far between compared to higher up. It's harder to predict where Ethereum will rebound in these areas (if at all). However, any horizontal lines that touch the downward area are potential spots where there will be an uptick before what I predict to be a return to the fall. They may also be very short and not appear on the 4hr chart. I direct you to my latest Ethereum chart for potential zones we will reach and areas that are good to be aware of for buys in the near future:
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