Weekly reviews

Ethereum market technical outlook

Cryptocurrencies

Weekly chart:

ADX is in a weak zone and drops, that corresponds to a flat forecast. However we need to keep in mind a correlation of ethereum with bitcoin, that probably will drive to a threat of new downward wave in direction of the lower Bollinger band (64.76).

Expectations:

Start of new decline in direction 64.76.

Trading recommendations:

Short-trades towards 64.76.