Ethereum Moving Below Support, Incoming Drop! (Altcoins Update)

Another one of the big buys, Ethereum (ETHUSD), is also aiming lower...

What do you think will happen when big money flows out of Bitcoin, Ripple, and Ethereum?

Where is this money going?

The smaller altcoins of course... We are talking about thousands and thousands of altcoins.

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Back to Ethereum...

We can see prices moving below EMA10 and the exact same signals we saw on the Bitcoin (BTCUSD) chart.

We have the indicators, MACD and RSI, trending lower as well as bearish divergence with both.

We also have a bearish cross on the MACD and the bear volume being clearly stronger than bull volume since the beginning of the month.

This is no big deal...
This is not a problem...

Prices go down, just as they go up.

You always get a retrace after a strong bullish move.


Conditions for change

We would need to see Ethereum (ETHUSD) move above the last high and staying there for the bearish bias that is developing now to be canceled out.

For now, we are aiming for lower prices.

Thanks a lot for reading.

Namaste.

Commentaire:

Bitcoin, Ethereum and Ripple all went lower as expected while the smaller altcoins are starting to grow.