Luna - Technical Analysis- compared to Ethereum Eth
This is a good example to Analyze Eth chart pattern. Even Eth is making something similar parallel pattern in a longer time frames.
Generally, after the 2nd consolidation it should Break out from the channel, if it fails and making Bearish Divergence in the rsi, high possibility that it will break down from the channel.
This doesn't mean Eth falls in a similar fashion as Luna fell down, but i took Luna as example to explain the movement in the parallel channel.
Ethereum most probably make one more cycle in the next bull run and make bearish Divergence in rsi or Mfi and break down from this channel.
Generally, after the 2nd consolidation it should Break out from the channel, if it fails and making Bearish Divergence in the rsi, high possibility that it will break down from the channel.
This doesn't mean Eth falls in a similar fashion as Luna fell down, but i took Luna as example to explain the movement in the parallel channel.
Ethereum most probably make one more cycle in the next bull run and make bearish Divergence in rsi or Mfi and break down from this channel.
