Ethereum saw a massive decline against Bitcoin, buyers unable to maintain buying pressure nor defend the former downtrend breakthrough.
Prices sharply fell back under the downtrend, forming a very bearish bull trap.
The lack of buying pressure after this fall is indicating more weakness to come.
Sellers are in full control, therefore, we expect Ethereum to head toward the yearly lows at 0.017 and lower.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .
Prices sharply fell back under the downtrend, forming a very bearish bull trap.
The lack of buying pressure after this fall is indicating more weakness to come.
Sellers are in full control, therefore, we expect Ethereum to head toward the yearly lows at 0.017 and lower.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .