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It is shocking but Yes, ETH is still in a bearish trend! If you didn’t read our previous analysis on Ethereum Sell Trade What Next? $1,418 Bearish Target!, you would probably think this current rally is the end of the Ethereum sell-off. But it is not, and we predicted this rally in price and warned our readers not to fall for the bullish mentality on Ethereum.
If you didn’t read that Ethereum analysis, go read it now because I can promise you it is an eye-opener and it can help you understand what exactly is going on in the Ethereum price chart! Ethereum Sell Trade What Next? $1,418 Bearish Target!
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What Next For Ethereum?
The Ethereum has met all our minimum requirements for this rally, and while a lot of crypto traders might be calling for the end of the bearish trend and the start of the bullish rally, we here at Bitcoinsensus know Ethereum is still very bearish and there is a high probability that we might see a price crash in the coming days.
How Do You Position for This Down Move?
If you have not been following our Ethereum analysis, then you have not been making money from the fluctuations in the Ethereum price. Well, there is still hope for you to change that. Subscribe and turn on post notification for the Bitcoinsensus site right now to get our latest articles as they drop!
Related Article: Is There More to the ETH Network Than Meets the Eye?
Let’s get back to the chart!
The key level to watch right now to confirm the resumption of the Ethereum sell-off is the $2,292 price level. A price break below this level on the 1-hour timeframe confirms our bearish bias on Ethereum.
Are You Bullish On Ethereum?
If you are bullish on Ethereum, then you want to stay out of the market until the $2,948 resistance level gives way because as far as Ethereum is still trading under this resistance, the altcoin is bearish!
More Trading Ideas?
Check out our predictions on these Altcoins right now!
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