ETH picked an alternative path and is expected to go lower (possibly much lower) in the coming days. Let’s test the hypothesis.
The detailed interpretation of monthly and weekly candles is discussed in the weekly analysis (link below).
On September 7 $ETH completed a Tower Top, one of the bearish formations with high probability of further decline. After such dramatic move, ETH paused for several days. It consolidated under 20 EMA and is ready to continue decline that could happen any time.
Indicators are supporting a move down.
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