Ethereum is forming a short-term flat. The situation is heating up. Powerful impulses usually follow after long flats such as the current one.
The advantage is with the bulls.
So far, this movement seems to be a correction toward the upward trend. Ethereum’s price has rebounded off the level of large volumes, around $9.
That mark will be the peak of a rebound toward the upward trend, where a change of trends could happen. If the bears win the advantage, Ethereum’s price is going to fortify at the level of $9 and form a turn. In that case, there will be a good chance for....
Ethereum’s price has formed a flat. It may provoke a short-term trend when it leaves the corridor.
Which direction will Ethereum choose?
The downward trend on Ethereum’s market is not broken yet. The price is moving within a flat, preparing for another dash.
One of the boundaries of that flat will be a starting point for the short-term trend. Because the trend is heading downward and there was no turn, $8.4, which is the top limit of the flat, will also be the peak of a rebound.
If the downward trend is to continue, there will be a bounce off that point, but if the....
Ethereum’s price is now really close to the top resistance line. A fortification and a turn at that level can provoke a short-term upward trend.
Will a medium-term upward trend begin now?
Not only a short-term, but also a medium-term trend can begin at the level of $10. When two different levels of trends align, it usually signals a powerful upcoming movement.
But before that movement happens, Ethereum’s price has to fortify at that level and form a turn. Otherwise, there will be a rebound towards the bottom limit of the flat - $8.5.
The structure of Ethereum’s....
Ethereum’s price continues its downward movement. The price has reached an important long-term resistance line.
There is a probability of a change of trends
Ethereum is currently in a zone, which is profitable for purchase deals within the long-term trend. That’s why there is a chance of a new upward rebound.
For a more confident signal, Ethereum’s price has to break the medium-term downward trend. The level of $7.5 will be a critical point for a rebound. If the bears don’t hold the advantage at that level, a fortification and a turn are likely to follow. The....
Ethereum’s price continues forming a sideway movement. The longer the flat, the more powerful will the following trend be.
When should we expect the flat to end?
Ethereum’s price has bounced off the bottom limit of the flat. There was no fortification, so the direction is still ambiguous.
Until a fortification at either limit of the flat happens, Ethereum’s price will most likely keep bouncing off them. In turn, a fortification will display which side has the advantage and a trend will begin.
For a turn to growth, Ethereum’s price has to fortify and....