Ethereum & Potential Drop Zones
I decided to do a similar Ethereum chart to go along with my one for Bitcoin, as it has been working out quite well for monitoring the market.
The blue boxes represent the previous important drops and the red box represents the predicted area in which Ethereum will fall into. As can be seen from my last Ethereum chart, my downward trend lines have been good indicators of where price action takes place after switching to logarithmic.
Some significant signs include Ethereum currently running under the EMA 200 and falling out of it's Bollinger bands. Also note that this time the drop appears to be dragging out longer. Don't be fooled however, anything can change real quick.
I see $350 in Ethereum as a realistic spot, with a potential into $275 (don't forget how long those candle-wicks can get!).
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.