Ethereum remains in a sideways pattern after exiting the downwards channel. I have a feeling that this is a head fake exit from the downtrend. Why is that? Ethereum has failed to make higher highs and/or higher lows after breaking the downtrend. It has failed to breach $231 and now $206, former support, is acting as resistance. I'm preparing for a continuation of the downtrend to at least $145 and we will reevaluate from there.
What to watch out for:
A retest of $206 and subsequent failure
$175 to fail as support in the coming days
Resumption of the overall bearish trend.
Stay patient! Amazing buying opportunities to come!
