Hi, traders!
Today we continue to talk about Ethereum. It's considered to be one of the most powerful altcoins that could be an alternative of BTC. Well, let's have a look at the chart.
On daily chart we can see descending channel. However, 0.236 Fib level is respected and tested actively by the price action. In out opinion, breakout and trend reverse is rather possible. However, common market conditions are bearish. That's why probability of breakout is kinda low. Thus, acting in this Chanel till September looks most likely.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Today we continue to talk about Ethereum. It's considered to be one of the most powerful altcoins that could be an alternative of BTC. Well, let's have a look at the chart.
On daily chart we can see descending channel. However, 0.236 Fib level is respected and tested actively by the price action. In out opinion, breakout and trend reverse is rather possible. However, common market conditions are bearish. That's why probability of breakout is kinda low. Thus, acting in this Chanel till September looks most likely.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
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