The December Bull Rally could have been more significant than perceived. Has ETH declared its Bottom?
One of the larger cluster convergences from the downtrend lines would indicate that the November drop could also have had significant importance.
To date, we can see the are starting to shift upwards, as the December rally battled through a number of them, and highlighted the present one that ETH Bulls are facing at the Daily 50, and 100 - which correspond with the present key downtrend line (and one of the last ones for a while). ETH does presently have the support of Daily 20
A turn down or correction from the Daily 50 and 100 SMA doesn't appear to be catastrophic unless the $100 level is broken. Even then, a double bottom $83 and the psychological weight of the previous December rally may surely catapult or fully declare a bottom if it hasn't already.
However, do disappear, once broken - so this may not in any way be predictive or useful as it is interesting. Judge for yourself, and come back later to take a look.
Good luck, Traders! May you find yourself on the profitable side of it.
Daily Overall Downtrend Outlook:
Testing ETH Bulls: