Monthly reviews

Ethereum market technical outlook

Cryptocurrencies

Monthly chart:

The state of ethereum is close to apocalyptic. We see pure bearish close of trading in January and also trending mode of ADX indicator. Support levels capable to restrain a new phase of decline are unseen. While an awesome handle of $0.96 for a coin is quite visible.

It can be named nothing, but a perspective of complete denomination. It’s doubtless, that we’ll be seeing upward corrections, triggered by enthusiasts trying to buy the coin at a low price (as they’ll feel like).

Also we can’t rule out scenarios of “happy rescue”.

But if we cut all conjectures and interpret the chart from the technical point of view only, then we have to see ethereum below $1 for a coin very soon.


Expectations:

So, we expect further decline with long-term target 0.96!

Trading recommendations:

Shorts towards 0.96.