Weekly reviews

Ethereum market technical outlook

Cryptocurrencies

Daily chart:

Ethereum tumbles in synchrony with the whole cryptomarket. ADX indicator resides in a trending phase, therefore we can expect testing of the 29.68 handle (lower Bollinger band), that can be regarded as almost a devaluation of this coin. From the other hand such price can become very attractive for new long-trades.


Expectations:

So, we expect further decline in direction 29.68.

Trading recommendations:

Shorts towards 29.68.