Ethereum losing its downward momentum, but may not be done.

in #cryptocurrency7 years ago

Descending triangle usually means watch out! If ETH breaks below horizontal orange line, expect a plunge to the red hill.

Personally, I don't expect this, given Litecoin's momentum up, and Bitcoin's less than decisive movement, which I anticipate will also be UP, based on its historical movement.

Cryptos tend to move together, too.

ETH might be nearing the end of its downward trend. A couple more days and we'll know!

Screenshot 2017-07-04 at 9.57.44 PM.png

For yesterday's analysis on Litecoin: https://steemit.com/cryptocurrency/@demogirl06/long-litecoin-to-60-litecoin-you-re-lovely-3

For yesterday's analysis on Bitcoin: https://steemit.com/cryptocurrency/@demogirl06/bitcoin-hopefully-higher-soon-a-look-at-descending-triangles

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Your graphs are awesome.

I think another reason why ETH may look to fall is that, new cryptocurrencies which are being implemented intend on being the improvement of ETH