Ethereum’s price is at the bottom limit of the medium-term flat. The odds are stacking in favor of an upward movement.
Is the long-term correction over?
The movement, which has broken through the key support level around $14 is a wave of correction towards the downward trend. That was confirmed by the turn at $12. Ethereum’s price has broken through that resistance and, after fortifying at the $12 mark, formed a turn to decline. As was pointed out earlier, that level was responsible for the balance of power between the bulls and the bears. A fortification meant that the bears are holding the advantage, which has consequently led to the price reaching the minimal target and dropping sharply. Ethereum’s price has reached the minimal target of the long-term correction. That could provoke a continuation of the long-term trend.
You can red more here:
https://cointelegraph.com/news/ethereum-eth-price-trends-week-of-august-1st