ETH Going Down To 1450 - Double Top

With the double top that is visible not only only on the daily chart, but also on the lower time scales indicates that Ethereum could be going as low as 1450. The fact that we have achieved a lower high after the double top further supports the idea of an active downtrend. I don't expect for ETH to reach the low value immediately, as there are various high-volume support levels along the way.

While a double top did not form on the BTC chart, a rectangle on the downtrend indicates that it could go as low as 19K. You can find that analysis in the related idea.

Wether the low value of 1450 will be reached or not, one thing is clear: are still in the bearish phase and a further price decrease is expected.