Ethereum (ETH and ETC) Price Trends (Week of October 31th)
As was expected, Ethereum has reached the minimal medium-term targets. The price is more than 20% down. Will the fall continue? ETH/USD. After Ethereum has rebounded from the diagonal channel near $13, Ether had two options: fortify at $13 and form the third wave towards $15, or fortify at $11.5 and go down to the bottom limit of the long-term flat. The market has chosen the downward scenario. The medium-term downward trend has been forming since late September. It’s at the level of $11.5, where the future structure was decided: either the flat could end and be followed by powerful growth,....
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The past week waas a week of altcoin trends. Will the current trends continue, or are they going to turn about? ETH/USD. Ethereum has reached the minimal target of the medium-term correction. Trading on that level can provoke a continued fall of Ethereum’s price. Ethereum’s price is at a key level, where the downward movement can be disrupted. In case of a rebound from $12.2 followed by a return to $11, Ethereum has a chance to continue its downward trend. For an extra confimation, Ethereum’s price has to stop at the level of $11, which will display the lack of sufficient support from the....