BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Ethereum came down nicely, breaking the side-wards support line EXACTLY AS PREDICTED :-). Anyway, price is having a minor recovery for the time being. I believe the downside is still the probably outcome, however the small green daily candles suggest we could get a small recovery rally, likely simply retesting the side-wards support as a new resistance before coming back down again.

Remember, 124 is the WORST CASE. Doesn't have to go that low, it's just the lowest it's going to get.

Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!

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What is your basis for pegging ETH to $120 at the lowest, I'd expect an even worse sell-off if we were to get that far down
+1 Reply
TomProTrader Captainsmugglebutt
@Captainsmugglebutt, I never pegged it. After we hit this level it's subject to review again, but it will bounce at 124 almost definitely due to obvious technical factors, but can after, go lower...
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@TomProTrader, I get what you mean. Any thoughts on technicals after this ridiculous activity from Tether? I'm still trying to figure out the validity of my patterns after that wick blew through one of my upper bounds.
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I am also seeing the possibility of around 140, 139 based from a minimum fall of a flag last time or even lower if this fall will create another bearish pattern but I am not certain. It was a wedge that was broken up but it's also a downward channel that didn't break the upper line> if Eth will go up from here, break 237, there could be a possibility that it can reach 280 but if it's a false break out, we might really see 140 or even 135 or lower based on lower line of the downward channel. What do you think? Thanks.
+1 Reply
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