Ethereum Primed For Its Deadliest Fall In Months
Updated
Ethereum is primed for its deadliest fall in months as all key indicators point to extremely bearish outlook. The weekly chart for ETH/USD shows a strong bearish divergence on the RSI that confirms. The trend line resistance shown on the RSI has been rejected and the RSI is expected to fall further in the days and weeks ahead. Similarly, the price has faced a strong rejection near the Ichimoku cloud on the weekly chart and is now ready to fall towards the bottom of the ascending channel it is trading in. Interestingly, this ascending channel forms part of a large bear flag that could see the price fall lower than our previously stated target of $60 per coin by the end of the year. Recently, over $7 million worth of Ethereum were hacked and transferred to an unknown wallet. At this point, Ethereum is not short of catalysts that could push the price off a cliff.
Full Analysis: cryptodaily.co.uk/2019/05/why-ethereum-is-primed-for-its-deadliest-fall-in-months
Full Analysis: cryptodaily.co.uk/2019/05/why-ethereum-is-primed-for-its-deadliest-fall-in-months
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