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Ethereum Targets to Watch Following This Week’s Deviation
Ethereum is trading back below the $2,030 August high this week, suggesting a bearish deviation that could push the market lower. You can see how this $2,000 area is also the top of an ascending channel from December. This week’s drop puts ETH back inside this structure, which means the latest rally above $2,000 is a deviation, also called a fakeout. Deviations like this tend to send a market in the opposite direction. However, ETH is catching a few bids today at former range highs in the $1,920-$1,935 region. That said, I’m certainly not interested in longing Ethereum, given the breakdown we saw earlier today ... (full story)
