DataMoney

Pattern breakout. Is ETH going down?

BINANCE:ETHUSDT   Ethereum / TetherUS
Today's post is short and sweet - nothing much has changed since yesterday.
Today's pattern, however, is promising a breakout. Macro data says up, micro data says down. It seems that a psychological number of ETH $1550 is a strong anchor and the price was quite stable around that price point ever since Monday!

From my yesterday's post many of you have learned why the price is in such a limbo at the moment. Volume is slightly higher compared to Tuesday and if you will look a bit closer at the numbers - these are additional sell orders. That means that demand is not picking up. Friday may bring a bit more sense of urgency as traders will try to push to close the week with a profit. πŸ’Έ

Today's technicals:
Position is Neutral (Data Money fans with early access already knows that we have been shorting since ETH $1570 this morning πŸ€‘)
Forecasted high at ETH $1680 and $1700
Mid-way point at $1490 (indicating price recovery)
Forecasted lows at $1490 and $1470

Have fun trading! πŸ“

If you would like to have early access to Data Money ETH technical analysis , write what is your favourite Data Money ETH post and why with a link in the comments down below! πŸ™Œ
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