ETH 2017 pattern repeat
I'm just examining moving patterns and it looks like ETH is doing what it did in 2017.
This is a chart of 2017 for reference
The black support line (from lows, same line shown in 2017 as in 2018 chart) seems like an ideal spot for support, and it also coincides with the levels we saw in 2017 and also where it made it's trend reversal.
Both charts from 2017 and now, show about a 350% increase, then a -65% retrace. Judging by the current bollinger bands ETH is still being over sold and will continue lowe, moving averages also show that there is still a ways to go on the cross over to warrant more downward action, lastly the MACD is below the signal implying bearish movement. It looks like there is still more to go. The 475 price area appears to be a likely target for consolidation in to a trend reversal if it were to repeat the same levels as in 2017, it will also meet the same black support line to accomplish this, meeting the rough -65% retrace target as seen in 2017.
This is a chart of 2017 for reference
The black support line (from lows, same line shown in 2017 as in 2018 chart) seems like an ideal spot for support, and it also coincides with the levels we saw in 2017 and also where it made it's trend reversal.
Both charts from 2017 and now, show about a 350% increase, then a -65% retrace. Judging by the current bollinger bands ETH is still being over sold and will continue lowe, moving averages also show that there is still a ways to go on the cross over to warrant more downward action, lastly the MACD is below the signal implying bearish movement. It looks like there is still more to go. The 475 price area appears to be a likely target for consolidation in to a trend reversal if it were to repeat the same levels as in 2017, it will also meet the same black support line to accomplish this, meeting the rough -65% retrace target as seen in 2017.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.