Reasons for a bearish outlook in the midterm:
-ETH didn't manage to break ressistance at 4750 forming a double top with previous ATH of Nov 25
-Broke the trend that started March this year and currently is retesting it.
-Price is now in top of an ascending channel, a visit to the the low of the channel at 1600 is possible is fundamentals help it.
Retest of the trendline:
-ETH didn't manage to break ressistance at 4750 forming a double top with previous ATH of Nov 25
-Broke the trend that started March this year and currently is retesting it.
-Price is now in top of an ascending channel, a visit to the the low of the channel at 1600 is possible is fundamentals help it.
Retest of the trendline:
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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.