Short

ETH Fall Trend & Fall Channel

Updated

Now a clear channel for fall trend is appeared on the chart. If the fall trend continues, we may see ETH touch down to 102$ or even worst below 3-digits. However I dont see it will be a long term problem. Even though price of ether goes down, market cap and other indicators are still healthy. One should always remember BTC is the first Crypto Currency, and it is important. ETH allows smart contracts and superior to BTC (from smart contract point of view), and it will always be important.

Trade active

Look at ETHBTC, and you will see 0.07504 is a support that we may touch in the next week. Considering BTCUSD is around 1973 right now, and potential to go 1848; I am eager to check 0.07504*1848 = 138.67. When we look at ETHUSD 137 is look like a nice support. Therefore, I conclude we wait till ETHUSD touches down 138, and then look for a LONG chance. Right now, the trend is still looking down.

Trade closed: target reached

Just like we predicted, it touched 135$ and then jumped. Enjoy your ride.

Chadetov

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