ETHEREUM - 7/19/2017 Price Update
Ethereum has broken out of its downwards channel as of yesterday as predicted. However, it broke through with a vengeance nearly testing the $253 resistance level. It has been on a downwards trajectory for the past 18 hours and seems that the fight at $206 should occur today or tomorrow instead of yesterday. If it fails there, expect it to test the top of the downwards channel line at around $195. If these levels hold, the break out could be confirmed. If not, watch out for a fall down to $145 in the near future.
Levels to watch:
-$253: Overhead resistance
-$232: Overhead resistance
-$217: Current Price
-$206: Potential support but I'm expect a failure here.
-$195: Top of downwards channel line. Potential support but I'm expecting failure here. If not, this could confirm the breakout.
-$175: Potential support but I expect another failure again on the next move down.
-$145: Bottom of downwards channel line
-$145: Support. Could break this level in the next fall.
-$116: Major support. Tested a few times before the last big run up.
cool! Great content @custum, which scenario could happen for eth after segwit2X is implemented for bitcoin?
thanks for the answer and i am following you now and upvoting you!
Thanks for the mention and follow! I think over the the past few days the market was pricing in chaos and a contentious fork but I think the market wants to move higher in light of the BIP 91 activation. Technically speaking, Bitcoin still is broken but if we can recheck this breakout level and then move above ~$2690, we will reestablish the trend that was going until July 10th.
https://steemit.com/bitcoin/@pronetmbjt/the-bitcoin-will-not-be-divided