Welcome to another review of the 4 major cryptocurrencies. So far our bearish view on all 4 and specially in ETH and XRP is proving to the point. Staying away or shorting them has been our view as no reversal sign or trend change confirmation has been issued yet.
Price remains inside our bearish channel. Low 0.40s are expected to be seen over the coming weeks. Only a break above 0.65 will give a hint of a trend change.
Our wave Y target has been reached. Price remains in a bearish channel. Clear bearish trend here as well. No divergence, no sign of reversal. Bulls will need to break above 582$ for a hint of a trend change.
Challenging February lows. I expect them to be broken. 4565$ most probable target as long as price is below 9130$. Break above it and we might see a bigger bounce towards 12k.
The chances of falling below 100$ are very high. However I do not believe it will fall below 90$. Strong support in this area. Bulls must eventually break the big triangle pattern to the upside. 180$ is the big resistance level they must break.
Take care everyone and thank you for taking the time to catch up on my thinking