ETH to drop to new lows

Updated

ETH along with BTC got rejected from what appeared to be a inverted head and shoulders. Unless momentum can be rebuilt by the bears. However, I don't see anything in the markets to be able to justify this move for crypto anytime in the near future. It is most likely we continue bear trend down. There is news of a split on Jan 14th for a coin reward. But ETH may still have another pump in light of this pending news. Otherwise the projection is $50 range. It may not get this low if we stay in a sideways pattern for most of 2019 as we continue consolidate from ATH's.

Note

Potential bullish divergence developing on 4 H chart. Keeping an eye on an upward move to retest overall bearish trend. See if it can break it. If not, my bearish prediction will be back in play.

Note

just had a nice pump. keeping an eye on this development currently looking bullish for a possible breakout to the 200 area.

Order cancelled

chasells

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.