- Repricing down following the 3 surges up to reach new all time high at $1422
- First stop down is $1261, then $1161.
- Might bounce up at $1161 followed by a drop to $1081
All good things come to an end. Now repricing down to $1261 (which it just hit as I"m typing), it's next stop may be $1161. In the crypto world, repricing back down to .5 fib levels isn't uncommon so it might head towards $1081. However that last surge wasn't significant and support above $1k seems reasonable. I'm keeping my eye on those volume levels though. If the volume levels don't increase and the +DI/-DI/ADX converge, maybe Ethereum will travel closure to it's ATH for a while.
We are yet to see an altcoin show the former glory displayed in 2017, however that clearly was a different year. When you look collectively at the major altcoins, they generally move up and down together, particularly down when bitcoin is going lower. Ripple was the first to break out of the trend followed by Ethereum. Ethereum classic showed a little bit of that trend in the past day though rather than successive surges has moved up to find a new support level.
I expect the corrective action to go on for another couple of days.
And now for the disclaimer!
** This information is for educational purposes only and not intended for advice on trading **
- First stop down is $1261, then $1161.
- Might bounce up at $1161 followed by a drop to $1081
All good things come to an end. Now repricing down to $1261 (which it just hit as I"m typing), it's next stop may be $1161. In the crypto world, repricing back down to .5 fib levels isn't uncommon so it might head towards $1081. However that last surge wasn't significant and support above $1k seems reasonable. I'm keeping my eye on those volume levels though. If the volume levels don't increase and the +DI/-DI/ADX converge, maybe Ethereum will travel closure to it's ATH for a while.
We are yet to see an altcoin show the former glory displayed in 2017, however that clearly was a different year. When you look collectively at the major altcoins, they generally move up and down together, particularly down when bitcoin is going lower. Ripple was the first to break out of the trend followed by Ethereum. Ethereum classic showed a little bit of that trend in the past day though rather than successive surges has moved up to find a new support level.
I expect the corrective action to go on for another couple of days.
And now for the disclaimer!
** This information is for educational purposes only and not intended for advice on trading **
Comment:
With the way the market is going, it will hit the end of that red arrow
Comment:
Still showing some signs of strength in this market turmoil. Currently at the end of the red arrow as predicted.
Comment:
strangely it has priced to the end of my red arrow, but dropped further before reach that $1081 level