The ETH coin indicates that the overall trend is still bullish. However, the pair is stuck in a correction phase and has discounted the coin by 20%. Furthermore, a falling wedge pattern is leading this short-term downtrend, and the coin will follow a red flag until this pattern is intact.
Key technical points:
The ETH coin chart shows a bearish crossover of the 20-and-50-day EMA
The intraday trading volume in the ETH coin is $2.13 Billion, indicating a 6.12% loss.
Source-Tradingview
The last time when we covered an article on ETH/USD, the coin price was still hovering above the $4000, trying to obtain sufficient support from it. However, on December 13th, the overpowered sellers caused a decisive breakdown from this crucial level, extending the correction phase for the long holders.
So far, this pullback has cost 20% from the All-Time High of $4875 and is currently retesting the new resistance before beginning a red rally.
The ETH coin maintains a bullish trend as long the price m
We współpracy z: https://coingape.com/etherum-price-analysis-falling-wedge-pattern-extends-the-eth-correction-phase/
