WiseAnalyze

Ethereum consolidation channel

BYBIT:ETHUSD   Ethereum / U.S. Dollar
ETH formed a bull flag at higher timeframe and moves within it till now. Current trade channel located between 181 and 189. Since higher level already hit, we may expect it to go down - and either bounce from channel middle line around 185 or go lower to channel bottom at 181. Bouncing from 185 will be bullish and gives a chance for channel bullish breakout. All depends on BTC which is not clear right now. I think it can drop to 8300-8550, but for very short time and most probably just a wick. If that happen, ETH can dump below channel border.
Comment: So far everything according to forecasted scenarios
Comment: ETH still consolidating within same narrow range
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