ETH priming up for $275? It looks absolutely possible!
Hello Traders,
I am glad to share my last analysis on Etherium with you all. I will point out a couple of things, first, we have finally broken down from that descending triangle, that definitely spells more downside for the coin. I will not mentioned much on sentiment besides the fact that crypto is a bear market right now. Another thing is that we are trading ETH below the 50 MA and 200 MA, actually they may be crossing soon for more bearish confirmation.
I know this is a lot of bad news for ETH owners, however, there are a couple of key levels such $400 and $275 that could offer a support zone as they have done multiple times in the past. Please zoom out the chart so you can better see them.
Let's see how those levels react and if you have comments, I'd love to hear them! Please give thumbs up if you like what you see!
Cheers!
-Shogun414
I am glad to share my last analysis on Etherium with you all. I will point out a couple of things, first, we have finally broken down from that descending triangle, that definitely spells more downside for the coin. I will not mentioned much on sentiment besides the fact that crypto is a bear market right now. Another thing is that we are trading ETH below the 50 MA and 200 MA, actually they may be crossing soon for more bearish confirmation.
I know this is a lot of bad news for ETH owners, however, there are a couple of key levels such $400 and $275 that could offer a support zone as they have done multiple times in the past. Please zoom out the chart so you can better see them.
Let's see how those levels react and if you have comments, I'd love to hear them! Please give thumbs up if you like what you see!
Cheers!
-Shogun414
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