Ethereum Prepares For Correction (30% Drop Possible)

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.

Namaste.

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.

Trade closed: target reached