COINBASE:ETHUSD   Ethereum
Ethereum is still technically bullish since its above the Ichimoku cloud. Unfortunately, the closing price fell below the must hold zone forcing the Stop for the last trade. The next question is where will the bottom likely be at? Placing an FIB retracement swing high of $187 to swing low of $156 you can see the rally failed at the .618 FIB of $176. The price hit the first target of $148 with the -.236, but with decreasing volume it looks like a bear flag. The next downside target would be the -.618 FIB which is at $137. Also, this is where cloud support should hold up the price. Looking at the weekly chart the 21 moving average is pretty much bear or bull for ethereum. It's at a price of about $133. The weekly candle needs to close above that to remain bullish. Seen here:



Ethereum entry: $133-137
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.