DrJLT

ETHUSD 1550 circa target still in sight & brace for correction

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
As I explained in my previous post, I believe ETH will touch >1550 & posssibly $1600 this month (possibly next week) before correction.

Now, we have EtherZero that's going to be distributed to ETH holders next week. This news & the current bullish trend convince me that despite BTC             uncertainty ETH will reach the target (see my last post for the technical reasons).

Still, we can see that volume is suffering a bearish divergence. Combined with recent acceleration in price growth, it affirms that a top is coming.

We're likely to experience a period of consolidation (as happened in previous months, also shown on chart). The drop won't be dramatic, but could be scary in one or two single days.

My previous:



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Comment: We have a small falling wedge forming. I think another small jump may be in sight.
EtherZero is non-trivial as far as I know. Might even be a scam.
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