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

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Ethereum / U.S. Dollar (BITSTAMP:ETHUSD)

BITSTAMP:ETHUSD Ethereum / U.S. Dollar

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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.

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Comments

If you look at 2016 and early 2017 you will see that the money flowing out of Bitcoin makes Ethereum and XRP rocket in price. Money will flow into high caps first then down the ladder until all prices are corrected. At the moment Ethereum and XRP are still below their all time highs.

Goldisking

@Goldisking, This type we had a different type of growth... It was fueled by "solid" money rather than FOMO.

The market is behaving differently.

Why to people talk about individual coins like Etherium going up or down? They all go up and down at the same time. there are small fluctuations between them but if Bitcoin is 20k, they are all up, if bitcoin is 5000 they are all down. its that simple and always will be until people give up on it entirely in a few years

Aphaynes

@Aphaynes, . yes, alts are correlated to bitcoin, although price action is different. Compare a few alt charts. They're not the same. Bitcoin may move a little, sending ripples throughout the market yet each asset will have different pivot points. Also, if Bitcoin consolidates, alts will often do their own thing. Support levels are different, so if Bitcoin dips it may trigger selloffs, although targets for short positions will vary depending on each alt's support levels / previous price action.

hosfordjaredqc

@hosfordjaredqc, Exactly, you explain it very clearly.

Thanks a lot for sharing.

Namaste.

Aphaynes

@Aphaynes, Not true... The cryptocurrency markets will grow in the future.

Many coins go through their own cycles.

It is not as black and white as you put it.

Namaste.

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

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