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Ethereum
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Ethereum Sale?

By jayandrae
Updated
Ethereum bounced from descending trendline and has fallen from the rising wedge that formed from the previous bounce from the 200MA at 570. Checking on the weekly graph also shows the death cross or the bearish crossover manifesting itself. ETHBTC also showing an incoming bearish crossover on the weekly.

Possible scenarios:
1. Retest the support zone (light green) at 700s
2. Potentially find support the 200MA at 600s
3. Go all the way down the historical trendline at 400s-500s
4. Bear trap and we break above the descending trendline and move towards 1100s-1200s

P.S. I'm a long term ETH holder and I won't mind getting great ETH deals before we go up to 2000 and beyond :P
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snapshot

On the 4hr we may see one more attempt to 1000. From there, whether ETH sustains it or not, we shall see.
Note
snapshot

ETHBTC approaching bearish crossover, may test support at 200MA at 0.07 BTC
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snapshot

Still 50/50 on ETH. may hit 1000s but face resistance. Also notice the ETHBTC graph almost hitting low RSI on the daily. Last time ETHBTC ratio was on this level was last December, and it triggered the run-up from 400-1400.
Chart PatternscryptoCryptocurrencycryptotradingETHEthereum (Cryptocurrency)ETHUSDTrend Analysis
jayandrae

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