ETH falling out of upward channel
Aggiornato
Here is a 1hr chart for ETH. An upward channel has been in tact for a while now and it seems that it may be broken. This is occurring as this upward channel is approaching the very heavy resistance of the downward channel. If this upward channel is broken, watch for new lows that would follow the large long term downtrend channel. On the other side, if the price action returns to the upward channel, watch for any breakout above the long term downtrend channel for signs of a trend reversal.
I think it is more likely that ETH will fall and eventually hit new lows.
I think it is more likely that ETH will fall and eventually hit new lows.
Nota
Confirmation of falling from the trend line. Watch for tests of the old support as a resistance.
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