As you can see in the circled section, ETHUSD has broken through the support curve created a month ago as the price broke the resistance. This is a very negative sign as it proves that the current resistance curve may be too powerful to break for some time.
What We Can Expect:
While it is obviously foolish, and impossible to predict exactly what will happen, we do have a fairly good idea of the matter. Looking at the support curve below the one that was just broken through, we can expect the price of ETHUSD to fall rather quickly down to this level. From here I would think it is safe to say that the price will steadily rise along this curve until it is met by the resistance again in late May.
Until then, we will only be able to wait and see whether the support is able to hold the price up from returning to the previous descent.
What We Can Expect:
While it is obviously foolish, and impossible to predict exactly what will happen, we do have a fairly good idea of the matter. Looking at the support curve below the one that was just broken through, we can expect the price of ETHUSD to fall rather quickly down to this level. From here I would think it is safe to say that the price will steadily rise along this curve until it is met by the resistance again in late May.
Until then, we will only be able to wait and see whether the support is able to hold the price up from returning to the previous descent.