In what looks like a possible wave 4, descending triangle correction, it appears as though Ethereum is projecting a lower-low is in the future before the end of this bear market correction.
With volume declining, the MACD looking very week and the short-term MAs still falling below the longer-term MAs, the trend is still quite possibly lower. If price breaks down below the prior low of $1701, then there are a few natural targets for the low point: $1,455, $1,136 and $875.
What do you think? Does the Bear Market still have some potency and is Ethereum projecting a new low is coming soon?
With volume declining, the MACD looking very week and the short-term MAs still falling below the longer-term MAs, the trend is still quite possibly lower. If price breaks down below the prior low of $1701, then there are a few natural targets for the low point: $1,455, $1,136 and $875.
What do you think? Does the Bear Market still have some potency and is Ethereum projecting a new low is coming soon?
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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.