the daily chartist

Ethereum starts to crack up

published 1 year ago
Ethereum Daily

 Finally, we are seeing the price of ETH succumbing to the pressure from Bears as it is breaking the line this time as the Bulls have failed to keep the price above 220 and met a strong resistance at 250 where selling resumed. Currently, my view goes back to the negative plan where the price breaches the wedge and moves lower towards 180 - 170 zone. Stoch and CCI are also moving in for a sell signal. As with Bitcoin the outflow of money there will keep the prices down and in a tight range for speculative purposes. We are going to see spikes here and there, but no clear signal for a new uptrend, or an acceleration for a downtrend across the crypto. As Bitcoin goes down, Ethereum and everything else follows because of the strong correlation in the crypto market. Selling your owned ETH here is a good idea then to buy more on a cheap level or if you are going to speculate on margin, shorting here will give you good profit as well for a take profit at 180 and stop loss at 250.