Ethereum Technical Analysis | ETHBTC

in #ethereum7 years ago

This past week Ethereum has been declining and making new hourly lows. It is currently testing the psychological support at 0.108 which converges with the ema200 on the 4 hour chart. Ethereum's uptrend is still holding up but currently facing a key test since it has broken a soft trendline. A trend line re-test is usually the norm in the following setup but if the price manages to break the 0.108 level then we may have a correction that goes for a lot longer into the coming weeks. Breaking of 0.108 would then re-direct attention to 0.085 as the next level of support.

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Time to go shopping soon :)

A shakeout to shake out the weak hands. June was not boring as we thought might be the case but about as exciting as it could get. What's next?