Ethereum breaches another support

BITFINEX:ETHBTC   Ethereum / Bitcoin
Ethereum is bearish . The coin is in the free fall mode since May 2018 and it doesn't look like the end is near. Since then the price managed to breach all kind of supports - horizontal, trend lines , Fibonacci etc. There is only one support left before we may re-visit the all-time lows. And this is the biggest support since the fall has started. The zone between 0.02400 - 0.02100 consists a major upward trend line connecting swing lows as well as the important horizontal support. In addition, the 0.886% Fibonacci support of the entire move lies in the same zone. Hence, we are talking about the triple confluence. Anyone who is looking to go long Ethereum in the long-term view may be looking at this zone for the buy trade. Thus, a stop below 0.0200 may leave enough space for any quick moves before the coin is bought. Eventually, the price may return the test the upper side of the big triangle, around 0.08500.
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