Ethereum Correction To Be Over Soon

in #ethereumlast year

Ethereum is currently forming either a flag pattern formation or a most likely an ascending triangle. However, price is currently in a downtrend and sellers have shown a strong presence with large impulsive red candles on the chart, so I think this ascending triangle pattern might break to the downside and price could reach $182 again.

The $182 level is a key major support level that should provide a strong base for buyers to step in again (myself included) and regain control of price. If buyers show enough strength, we might see price get up to the $263 mark soon.

Overall, although Ethereum is currently on a bearish run, I believe this correction will be over soon and we have to remember that on the long term (weekly timeframe) we are in a retracement that is part of a bullish continuation pattern, so hopes are high for that $182 level.

Let’s see what happens, please let me know what you think in the comments below and thank you for reading!

Posted using Partiko iOS


Thank you so much for being an awesome Partiko user! You have received a 11.20% upvote from us for your 1281 Partiko Points! Together, let's change the world!