As you know, hardfork London will come soon and many analytics say that the position of Ethereum will strengthen. Moreover, many say that capitalisation of it will become many times bigger. However, let’s have a look at the chart and speak about technicals.
Well, as you can see, there is a strong uptrend. Keltner Channel plays role of s strong support. Moreover, it respects Regression Chanel. However, the trend may reverse on many reasons, thus it’s important to take in account the possibility of trend reverse. Judging by all these arguments I see two scenarios.
Scenario A:
The price will continue to retrace up to the “golden pocket”. Therefore, it’ll continue to respect the regression Channel.
Scenario B:
The price will reverse and go even lower, than it’s now.
In my opinion the first scenario is more probable cause the update of Ethereum seems to be really great. However, the market may give us a surprise.
Well, as you can see, there is a strong uptrend. Keltner Channel plays role of s strong support. Moreover, it respects Regression Chanel. However, the trend may reverse on many reasons, thus it’s important to take in account the possibility of trend reverse. Judging by all these arguments I see two scenarios.
Scenario A:
The price will continue to retrace up to the “golden pocket”. Therefore, it’ll continue to respect the regression Channel.
Scenario B:
The price will reverse and go even lower, than it’s now.
In my opinion the first scenario is more probable cause the update of Ethereum seems to be really great. However, the market may give us a surprise.
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