phoenixTraders2020

Eth is leaving the bearish trend channel

Long
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Further to the treasury yield movement last week, the risk taking movement in market was done for a week. Therefore crypt market was declining deeply which made a bearish channel for Bit and Ether. However by starting this week and slipping on bond rate, again market came back to the risky assets and coins started bullish trend and already left the bearish channel and its boundary shadow. As you see the chart Ether is facing a tension zone of supply and demands which slowed the movement. In the other hand, we might not expect the high momentum like before due to the new market challenges and US administration this year.

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