Looks as if this trend line is a real one, have a lower high on the right, at the support now. So normally if the support breaks, we should get a good drop. So think when 187ish breaks, we might see the bull flag on the left play out.
Same deal as Bitcoin, a correction is most likely, for ETH even more likely since we are bumping against a big resistance now, as you can see on the left. But after the summer rally we had a year ago, it was another example that crypto can make extreme moves without making normal corrections.
So think 187ish is a very important level for the short term at least. If bulls decide to keep pushing, think we need to see a strong and fast move up through the 193/4 and going towards the 200ish.
Previous analysis:
Same deal as Bitcoin, a correction is most likely, for ETH even more likely since we are bumping against a big resistance now, as you can see on the left. But after the summer rally we had a year ago, it was another example that crypto can make extreme moves without making normal corrections.
So think 187ish is a very important level for the short term at least. If bulls decide to keep pushing, think we need to see a strong and fast move up through the 193/4 and going towards the 200ish.
Previous analysis:
This is NOT the reaction I expected to see after seeing 187 break. Same thing for bitcoin, don’t know yet what to make of this