Weekly reviews

Ethereum market technical outlook

Cryptocurrencies

Weekly chart:

Ethereum so far continues an upward technical correction in direction of the middle Bollinger band (195.13) and from this level mid-term sell offs are possible in direction of the lower band (64.76). Let’s emphasize that growth of the quotes goes on background of ADX tumble, that shows an absence of trending component in this movement.  

Expectations:

So, we expect touch of the 195.13 level and then start of new downward wave in direction 64.76.

Trading recommendations:

Shorts from the 195.13 handle towards 64.76.