ETH going towards the 110?
Updated
ETH' has been such a weak coin the past months. A lot of people were asking if ETH would not be a great buy around 300 even and even more around 200 levels. Because for the nr 2 alt coin, it got dumped so much, it should be a buy. Well as i told most, the market is always right. When a certain asset gets dumped, there has to be a reason for that dump. It seems the future for ETH' is not that bright anymore. It can always change again, but at the moment it's clear the market is not ready for that. This theory is only for high volume coins (assets), not talking about those Pump & Dump coins, which cover maybe 98% of the crypto market. So only where the volume is too much for easy manipulation.
From the looks of it, we could see a bit more lower prices, towards the 110. Just like my LTC' analysis, i will simply wait for that price to come and wait for some confirmation to think of going long there. This is not a long term buy, at first just a trade. Both left and right chart show similar targets, so this could be a turning point for ETH, at least for the short term.
A break of 130ish would be a first step to prevent the target for getting reached, above 136 should invalidate the small triangle and above 140 it would be confirmed.
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Previous analysis:
From the looks of it, we could see a bit more lower prices, towards the 110. Just like my LTC' analysis, i will simply wait for that price to come and wait for some confirmation to think of going long there. This is not a long term buy, at first just a trade. Both left and right chart show similar targets, so this could be a turning point for ETH, at least for the short term.
A break of 130ish would be a first step to prevent the target for getting reached, above 136 should invalidate the small triangle and above 140 it would be confirmed.
Please don't forget to like if you appreciate this :)
Previous analysis:
Note
So the 130 got rejected and we are at the support line again. If this break we could see another (small) wave down. On the left we can see a possible bullish wedge, but so far it broke out and it's failing to rally. So if this green support breaks, we could see a quick drop happening. If it holds, the wedge could still play out.
Note
Note
The target is closing in now or maybe has been reached already. But no big bounce up yet. And based on Bitcoin, it could be that we see another move down. My first though would be, it might drop even below that green support but can't say that upfront of course. Still watching at the moment to see how things develop
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