In my previous analysis, I suggested that ETH might have a small correction. Yesterday's fall probably has absorbed the energy & may lead ETH to test new highs.
Indicators are still overbought, but it appears that ETH is determined to go above the 1.618 extension. If we use this brief crash as a measure, it's likely for ETH to touch 2.618 extension, which would be BC=DE.
On the fundamentals side, there's some negative news. However, my close observation suggests that ETH tends to get a push whenever negative news hit.
In sum, it's between indicators that shout SELL & market makers that lure people to BUY.
As this will also draw the end of the rally from breaking out of the $300 zone, a real correction / consolidation that can take a month may ensue.
Indicators are still overbought, but it appears that ETH is determined to go above the 1.618 extension. If we use this brief crash as a measure, it's likely for ETH to touch 2.618 extension, which would be BC=DE.
On the fundamentals side, there's some negative news. However, my close observation suggests that ETH tends to get a push whenever negative news hit.
In sum, it's between indicators that shout SELL & market makers that lure people to BUY.
As this will also draw the end of the rally from breaking out of the $300 zone, a real correction / consolidation that can take a month may ensue.
Comment:
www.coindesk.com/eth...ve-technical-issues/
Comment:
One of my previous:
