Ethereum traders target the $1,650 to $1,400 zone after ETH price dropped closer to a critical support level.
The descending triangle pattern also forecasts further downside
A separate, but equally bearish descending triangle chart pattern was highlighted by Crypto Tony, whoBased on the lower area of support highlighted on the chart provided by Crypto Tony, a breakdown below the current price could see Ether pullback to the $1,450 to $1,600 range.Price momentum turns negative
A more macro view of the general weakness being displayed by Ether was offered by cryptocurrency trader Cantering Clark, who “If I didn't think that this time was slightly different, I would look at this $ETH chart and think ‘Big ships turn slowly, and they don't stop easily.’”“By high timeframe measures, this could be the beginning of actual momentum down.”
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hacienda Heights man pleads guilty to scamming Amazon out of $1.3MTing Hong Yeung says he duped Amazon's payment system to pay him for items he listed but never shipped.
Read more »
BlockFi is raising a down round at $1 billion valuation: sourcesICYMI: BlockFi is raising a down round at $1 billion valuation: sources
Read more »
Hacienda Heights Man Pleads Guilty to Bilking Amazon in $1.3M ScamAn Amazon.com vendor from Hacienda Heights pleaded guilty Monday to bilking the online retailer out of more than $1.3 million by manipulating the company’s payment system.
Read more »
Data Platform Paces Raises $1.9M To Derisk The Green Infrastructure Development RevolutionClimate change is high on the agenda for every layer of government within nations across the world, leading to trillions of dollars in investment in the coming decades to build green infrastructure Paces, a data platform startup, derisks green infrastructure development.
Read more »
Simone Biles, other gymnasts seek more than $1 billion from the FBI over Larry NassarFormer Olympic gymnasts, including Simone Biles, are among dozens of assault victims who blame the FBI for failing to stop sports doctor Larry Nassar.
Read more »