Ethereum is building a bear flag up against the All Time High.
Looking for this to go lower along with #Bitcoin. On that note, it is time to dismiss the narrative that "crypto is being more widely accepted". I'm not sure there has ever been a more misleading and dangerous financial suggestion in history.
The reality is developed governments will never accept cryptocurrency for tax payment, so it makes no sense to assume that collecting cryptocurrency as part of a revenue-generating process ("more widely accepted") is indicative of increased crypto stability or even sustainable demand. For example, if you collect half of your revenue in dollars and half in cryptocurrency, you are essentially saying that half of your revenue and half of your tax obligation is directly subject to crypto market volatility.... try explaining that to shareholders, let alone lenders.
Too soon to draw that pattern with the new top, we could get it higher and form a new channel within 2 days. Again, you are too soon to draw that top trendline. Price discovery is not over.