Ethereum on life support
Updated
Massive bear flag on the weekly chart
RSI has been in a downtrend for over a year
Stoch RSI sinking rapidly
Trading below 21 week EMA
Harsh rejection at .382 Fib
No more scam ICOs to pump up the price
Possible retest of 21 week EMA.
RSI has been in a downtrend for over a year
Stoch RSI sinking rapidly
Trading below 21 week EMA
Harsh rejection at .382 Fib
No more scam ICOs to pump up the price
Possible retest of 21 week EMA.
Note
A rally to the 21 week EMA seems likely. If that holds, then a retest of the .382 fib would be the next target. Does this mean we will see new highs for 2019, probably not. I think this is just the market taking money from greedy bears. I will wait for the rally to die down before going short.Note
Correction, I meant a retest of the .236 at around $257.Note
1st target at 21 week EMA has been achieved. Likely continuation rally to $257. If that holds than I expect a retest of previous support at $280. Please note that these gains are happening in the bear flag. Enjoy the rally, but the long-term outlook has not changed.
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