Ethereum is following the pattern we identified earlier and that is good news.

10 month(s) ago
figure #1
The bad news is that the decline does not seem to be over and Ether is waiting for a deeper dive.

In the last analytics ( we were waiting for a decline in Ethereum (it was in the area of ​​​​a break-in dynamic support or the black line on the chart)

Since then, the decline has been about 40%, but if you look at the MACD indicator, you can see that we do not have any divergence (the lows on the indicator are updated as well as the price lows), which means that the current low is more likely to be updated as well.

In this case, the next target could be the $1,700 area (red line on the chart).

Nevertheless, you can see a surge in volumes, which may be a prerequisite for certain growth. The main target, in this case, will be the $3,400 area (marked with a black checkmark). It will not be easy to overcome this resistance. But if the price holds above this level, the growth may be more significant and we will get increased volatility.

As a result, the next interesting zone for buying will be the area of ​​$1,700, but so far the first target has already been closed as part of the expected rebound from the current area ;)

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