Ethereum (ETH) has essentially held steady in February. The market cap now stands at US$89.55 billion,
with US$1.58 billion traded on exchange over the past 24 hours. While daily traded volume is down sharply from late December and early January, the Ethereum platform continues to be adopted by an array of startups and is now being used at-large,
reducing traditional banking friction, increasing payment speed, and removing intermediaries.
Age 2yrs 7mos
Marketcap (current) $84.3B
Price (USD) $860.37
Price (BTC) 0.0785฿
24hr Change (%) -1.05%
24hr Trade Volume $1.9B
All Time High $1,432
All Time High Date 2018-1-13
% down from ATH 39.91%
ETH has been essentially trendless on high time frames, Since its ATH, ETH has gradually been moving low
The overarching trend continues to bearish, and a return to this trend can be confirmed using pitchfork and a likely pattern called BEARISH PENNANT FLAG PATTERN.
Here comes the BEARISH PENNANT FLAG PATTERN
Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend,
offering you an opportunity to go short.They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. The downtrend then continues with another similar-sized fall in price.
With a measured move down to 1.272fib extension,1.414fib extension and 1.618 fib extension.
TECHNICALS suggests that price might likely move lower toward those extension with touches on their related price.
Disclaimer: The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.