Ethereum short term is still channeling down the falling wedge. Yesterday the support line was tested again and held firm. The price bounced back to mid 400's and is going to seek the higher regions of the resistance line. We could have a breakout there, but I would rather see one more downtrend to 370-360 region, which should provide a solid support. As the trading range gets tighter the margin of profit and reward/loss ratio diminishes significantly. The closer to the apex the price gets, there are not a lot of sellers left because...there is nothing to sell. However, I have been saying this for awhile, I would rather see the price drop as low as 310-300. The turnaround might take some time because there is a tough resistance hanging on top and there are no shortcuts to overcoming that.
Financial disclaimer-Nothing in this chart is to be used for buying and selling purposes or financial decisions. These ideas only provide speculations on the price of the given ticker.
Financial disclaimer-Nothing in this chart is to be used for buying and selling purposes or financial decisions. These ideas only provide speculations on the price of the given ticker.