Fractal Suggests Ethereum has Room to Fall Before Bulls Can Spark Next Uptrend

EsqOrXVXYAILqbw 980x457

Ethereum has seen some notable momentum in recent days that has allowed its price to set fresh all-time highs Each break above its previous all-time highs around $1,450 has been fleeting, however, which is a grave sign that could mean downside is imminent For now, ETH’s price action remains firmly correlated to that of Bitcoin, with the benchmark cryptocurrency seeing some turbulence that has shaken its market structure One analyst is now pointing to a fractal pattern for guidance on where ETH might trend next This fractal suggests that a move towards a key trendline at $1,100 may come about in the short-term Ethereum has been struggling to maintain any upwards momentum due to Bitcoin’s recent turbulence. The benchmark cryptocurrency has caused ETH and most other altcoins to lose their recently gained momentum, as it has been slowly grinding lower ever since it broke below $40,000 a few weeks ago.…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE