Ethereum Within A Descending Channel & Can Go Lower!

Ethereum (ETHUSD) is now trading within a descending channel, drawn blue on the chart.

ETHUSD can continue trading within this channel while going lower.

• Support can be found at MA200 ($147) if ETHUSD continues to drop.
  
• If this level breaks the next support is 0.786 Fib. retracement sitting at $139 (marked with an orange line).
  

Conditions for change: For ETHUSD to break this small downtrend here a break above the blue channel is needed. You can also look for a strong close above EMA10 as a bullish signal. In the meantime, ETHUSD remains bearish.

Enjoyed this post? Feel free to hit like now...

Thanks a lot for reading, your support is truly appreciated.

This is Alan Masters.

Namaste.

Yorum:

EMA10 Rejection on Binance (ETHUSDT):

4H Time Frame: