On 15th June I wrote an analysis on Patreon about how Ethereum might play out over the weeks heading into July. Past Price action Market have been consolidating similarly like BTC for the past few months since 2018, with repeated buybacks after a 60-ish% (average) drawdown. One significant drawdown of 89.7% was during the spark of the great sell-off across multiple large cap crypto.

Weekly Chart Analysis Ethereum (ETH) is currently trading in somewhat of a range (in between the red lines) which forms a wedge pattern. It’s currently testing the bearish trendline formed since Feb. The red lines represent strong weekly levels (Support & Resistance) that market have repeatedly respected. Daily Chart Analysis Based of prior price action pattern (circled in orange), market respected the structure highest high-low with price breaking down to form a lower low. I’ve mirrored the same price action when market retest such level and placed it forward on current possible price action (purple)....