Summary
ETHUSD has just reached its Target 2 zone this evening. My last update on ETH which i posted few days back (click here) was when we reached target 1 of the Head & Shoulder pattern.
ETH price action has played out exactly as i mentioned in my previous update i.e to expect a small bounce up before the price goes down toward target 2 zone. That is appoximately $300 ride down since my first post on ETH pattern.
What next?
I think this support zone of 560ish which is Feb 2018 low will be tested real hard by bears. BTC also looking bearish will give overall cryptomarket a bearish sentiment which could make ETH make new lows lower than 560ish level. MACD is just crossing towards downside.
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Disclaimer:
I am not a financial advisor, nor the information posted in this article is a financial advice. The information in this article is my personal opinion and is not recommended to make any investment transactions based on it. I do not take any responsibility for the investments made based on my analysis.
