Ethereum still in downtrend, waiting for breakout

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
We can see Ethereum still in downtrend, but with a glimpse of hope for breaking up. Upper band has been tested twice and price has not fallen far from the upper band suggesting a third test, thus also forming a flag. The third test if succeed could validate the cup&handle setting target 80 pips higher from current levels, 180 acting as resistance, 200 as psychological resistance and 220 as final target.

If breakout attempt fails, a fall to 115 is likely. After this a retest or an attempt for double bottom at 80's.
Comment: Small uptrend was established after the flag. Double tops still possible neglating the current uptrend channel.



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