Hi Team! Welcome to today's update on Ethereum.
We've seen some signficant bearish price action in the last few days once we broke the wedge that was forming above the half quarter level of 150. Price dropped to the key support area at 116-120 and although it was respected... We are now seeing similar price action forming at the 125 quarter level. If we compare an equally measured move from what happened last time to what we might expect to see, the possibility of ETH revisiting 100 again is becoming greater with every day that passes.
It's also important to note that the anticipated Constantinople update has been delayed due to a massive potential security flaw.
I won't discount the possibility of a short lived bullish liquidity capture up towards our 38.2% fibonacci near the $140 price due to the nature of these volatile markets however my bias as of now remains with further bearish expectations for this particular asset.
This analysis is not meant to constitute as financial advice, please use risk management and trade/invest at your own risk!
Stay safe in these volatile markets friends,
Z ~
We've seen some signficant bearish price action in the last few days once we broke the wedge that was forming above the half quarter level of 150. Price dropped to the key support area at 116-120 and although it was respected... We are now seeing similar price action forming at the 125 quarter level. If we compare an equally measured move from what happened last time to what we might expect to see, the possibility of ETH revisiting 100 again is becoming greater with every day that passes.
It's also important to note that the anticipated Constantinople update has been delayed due to a massive potential security flaw.
I won't discount the possibility of a short lived bullish liquidity capture up towards our 38.2% fibonacci near the $140 price due to the nature of these volatile markets however my bias as of now remains with further bearish expectations for this particular asset.
This analysis is not meant to constitute as financial advice, please use risk management and trade/invest at your own risk!
Stay safe in these volatile markets friends,
Z ~
