#Ethereum = Daily Analysis – Down = 12.07.2021 $ETH #ETH #investing #cryptocurrency #crypto #trading

$ETH formed a Falling 3 Methods, a powerful bearish continuation combo. Expect lower, possibly much lower prices. Let’s explore the hypothesis from various angles.

The monthly and weekly time frames continue to be very bearish and it heavily impacts all smaller frames.

Today’s Falling 3 Methods combo is one of the strongest bearish ones.
From technical perspective, the price moved below 200 MA, RSI is on decline, MACD line crossed the signal line. Not even remotely bullish.
A few hours ago I posted a warning about possible acceleration downwards. It looks like it could continue overnight. Short term target – $1630-1700
Odds: Strong Bearish

FORECAST & Events to Watch:

From the weekly report on weekend: “A downwards move is expected in the next few days. The move could break through the 200 MA line. Based on the minor waves, the most immediate target for the move would be $1700-1705.”
So far, everything as planned. If there are any changes, I’ll update.

July options:
– If ETH in July closes below $1707, the prolonged decline would be confirmed.
– A closure above $2908 would likely mean that a rally is underway.
– Anything in between, a continued horizontal correction (Alt IV in light blue on the long term chart above).

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Previous Weekly:

The call on May 16:

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