ETH May Drop to $1,400
Ethereum (ETH) lost nearly 12% of its value within just three days after breaking out of its recent pattern last Friday.
The movement of ETH, along with the rest of the cryptocurrency market, is closely tied to Bitcoin (BTC). BTC has already dropped to $81,300 and shows signs of further decline.
It's likely that ETH will consolidate near its current level before continuing to move lower, as seen in the chart.
For now, it would be wise to wait for the price to form another bearish pattern before entering a trade. There's a strong possibility that ETH may extend its drop to $1,400.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Ethereum (ETH) lost nearly 12% of its value within just three days after breaking out of its recent pattern last Friday.
The movement of ETH, along with the rest of the cryptocurrency market, is closely tied to Bitcoin (BTC). BTC has already dropped to $81,300 and shows signs of further decline.
It's likely that ETH will consolidate near its current level before continuing to move lower, as seen in the chart.
For now, it would be wise to wait for the price to form another bearish pattern before entering a trade. There's a strong possibility that ETH may extend its drop to $1,400.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade closed: target reached
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.