#ethereum - Hitting major support

٣٠ أغسطس ٢٠١٩

As expected Ethereum did go lower and hit major support now. Not only that the falling wedge is on the last days, but also the Quarterly Pivot Support 1 and the Monthly Pivot Support 1 (which is going to change tomorrow) are now anchors for ETH. Going any lower than this, will change my future-thoughts about the mid-term development of the entire market, not only because also Bitcoin is at a very important decision mark, also f.e. Litecoin (also as expected) and other major Altcoins could not recover and the consolidation progressed. Obviously it will depend on Bitcoin´s decisions in the next couple of days/weeks, if Altcoins will manage to escape another painful bleed-out.

Ethereums Low-Spot is around $163 where the S1-Q is placed. Next minor support $152.

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Warm regards,

Neru