ETHEREUM - 7/31/2017 Price Update

in #ethereum • 7 years ago

Ethereum remains in a sideways pattern after exiting the downwards channel. I have a feeling that this is a head fake exit from the downtrend. Why is that? Ethereum has failed to make higher highs and/or higher lows after breaking the downtrend. It has failed to breach $231 and now $206, former support, is acting as resistance. I'm preparing for a continuation of the downtrend to at least $145 and we will reevaluate from there.

What to watch out for:

  • A retest of $206 and subsequent failure

  • $175 to fail as support in the coming days

  • Resumption of the overall bearish trend.

  • Stay patient! Amazing buying opportunities to come!

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7 years ago in #ethereum by
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