ETHEREUM - 7/31/2017 Price Update

in #ethereum7 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!

gdax-ethusd-Jul-31-2017-11-33-52.png

gdax-ethusd-Jul-31-2017-11-34-29.png