Ethereum impressive market cap rise has reversed, falling back under the multi-month range resistance that previously stumped Ethereum's path to greatness.
It has retested the range resistance and failed. It broke down from a more than a year long ascending channel with a measured move of 13.6%. Quite a catastrophe if the measured move is tapped.
What is probable is another sweep of the range support.
The analysis is mirrored in ETHBTC, with eth losing dominance to BTC
I am still of the opinion that ETH will reach 20K and take more than 25% of the total market cap but the timeline is unknown, Maybe this year maybe the next.
It has retested the range resistance and failed. It broke down from a more than a year long ascending channel with a measured move of 13.6%. Quite a catastrophe if the measured move is tapped.
What is probable is another sweep of the range support.
The analysis is mirrored in ETHBTC, with eth losing dominance to BTC
I am still of the opinion that ETH will reach 20K and take more than 25% of the total market cap but the timeline is unknown, Maybe this year maybe the next.
