ETH/USD: Sellers Maintain Grip
The outlook remains very fragile as is the case with most major cryptocurrencies. Moreover, relative performance versus BTC is even highly bearish. This alone makes ETH ill suited for any for of long-exposure.
ETH/USD is engaged in an holding pattern within the longer term down trend. This remains the case as long as minimally 266.10 and 288 remain unbroken as resistance. We expect a continuation of the down trend for the foreseeable future. 152 is a first minor projection. Below that a minor cluster around 93 could catch the bearish market.
Primary trend: negative
Outlook: consolidation in down trend, negative
Strategy: hold-short or avoid
Support: 183 / 152* / 93-
Resistance: 266.10 / 288 / 420+
Outlook cancelled/neutralized above 288
ETH/USD is engaged in an holding pattern within the longer term down trend. This remains the case as long as minimally 266.10 and 288 remain unbroken as resistance. We expect a continuation of the down trend for the foreseeable future. 152 is a first minor projection. Below that a minor cluster around 93 could catch the bearish market.
Primary trend: negative
Outlook: consolidation in down trend, negative
Strategy: hold-short or avoid
Support: 183 / 152* / 93-
Resistance: 266.10 / 288 / 420+
Outlook cancelled/neutralized above 288
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