Ether has prerequisites for a fall.
Several prerequisites for a fall are noted on the chart:
- The first negative point is the local initiatives of the bears. Highlighted with red dots. You can see the lows and highs going down - that's not good.
- The second negative point is that the price is kept below the moving average (market participants are ready to sell Ethereum for less than the average price over the last 20 days)
- The last attempt to hold the trend line (black line on the chart) is not accompanied by proper volumes, as if there is no interest in growth (this divergence is marked with red arrows)
Bottom line: if you have a negative attitude towards Ether, breaking the trend line (black line on the chart) can be a good option to sell.
If you are positively disposed towards Ether, then you should refrain from buying at the moment and wait for more comfortable conditions.
Several prerequisites for a fall are noted on the chart:
- The first negative point is the local initiatives of the bears. Highlighted with red dots. You can see the lows and highs going down - that's not good.
- The second negative point is that the price is kept below the moving average (market participants are ready to sell Ethereum for less than the average price over the last 20 days)
- The last attempt to hold the trend line (black line on the chart) is not accompanied by proper volumes, as if there is no interest in growth (this divergence is marked with red arrows)
Bottom line: if you have a negative attitude towards Ether, breaking the trend line (black line on the chart) can be a good option to sell.
If you are positively disposed towards Ether, then you should refrain from buying at the moment and wait for more comfortable conditions.