Given what's happening in the market, as well as the fact that we're entering the traditional Bear Market season that starts around August, also the past event of the mainnet launch and the amazing 29x rally that ERD did these past 4 months, a serious retracement is to be expected. There are some resistance levels along the way that I didn't draw on the chart as...
Taking into account the overall enthusiasm, the mass relief of finally exiting the year of the Bear, combined with the imminent ETF approval that is scheduled to be decided in August (but with some voices actually suggesting September as a final date and August just as a postponement) my view is that we in fact are assisting at an Head and Shoulders pattern...
A rising channel has formed in the CTR/ETH trading pair on Binance, starting in the second day of the new year. There is a clear possibility to continue the ascension, reaching eventually a stable level around the ICO price of CTR/ETH pair. Still we should be careful if the trend line is broken, we could see a downturn on a bearish path.
