Ethereum Prepares For Correction (30% Drop Possible)

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Ethereum ( ETHUSD ) is not as weak as Cardano or Solana which we just looked at (check related trade ideas below) but also aiming lower.

Right now support is set at $4114 or EMA50.
Below this level, we can see a strong correction take place.

We have the RSI moving below 50 and the MACD trending down strong.

We will go for MA200 first or $3112 and reach up to $2760.

We become stronger after the correction.
Be wise.
Be patient.
We are here long-term.

Comment: We are still tracking this analysis.
This might be only the beginning.
Comment: Looks like it will be going down after a lower high...
New update coming out soon.

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