Ethereum, ETHUSD, Technical Analysis, Oct/21/2017, Short Term Bearish
Chart is captured from Tradingview using Bitfinex as it has the largest market share at the moment.
The recent breakout of ETHUSD is rejected at above $350.00 and we see a wave of profit taking & stop loss. It is now consolidating at $290.00-$300.00.
If this range shows support, there is still chance for the uptrend to continue. The first uptrend target is around $380.00
However, I believe that the chance for the price to go down is higher.. We may see quick drop to $350.00 if traders give up Ethereum at $290.00.
$150.00-$190.00 is also possible if there is a panic sell..
AND, if you take a look at this log chart:
The panic sell may not happen but more attention is definitely needed!
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