EthereumUpdated ETHUSD 60-Day Pattern, 14-Day Projection Analysis
- Correction support level: US$560 range
- Primary support level: US$760 range
- Secondary support level: US$860 range
- Trending 14-day high: approx. US$1,060 range
- Key trend indicator to keep an eye on for the next 3 days: Will ETH stay above US$760?
- Primary support level: US$760 range
- Secondary support level: US$860 range
- Trending 14-day high: approx. US$1,060 range
- Key trend indicator to keep an eye on for the next 3 days: Will ETH stay above US$760?
Note
- Failure to approach the estimated apex is evidence (but not proof) of the price stabilizing. The more the momentum levels out (i.e. price trades sideways) the weaker the bear resistance line becomes.- Key trend indicator to keep an eye on for the next 3 days: If the price climbs to and establishes a support level above $870, this is the first real sign (but not yet confirmation) of a market recovery. I expect a >50% chance of this happening.
- The main disruptor to this pattern would be one or more bearish headline such as a government ban, a major exchange shutdown/hack or a major coin scandal.
Trade closed manually
The predicted trajectory was not wrong but it was incorrectly condensed. The main factor not included in the analysis: If the previous downturn shed inexperienced traders, the momentum going forward will in turn shed some volatility.
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