ETHEREUM - 8/1/2017 Price Update
Ethereum has bounced over its support @ $206 as is near the day's highs. Ethereum has been in a definite sideways pattern since July 17th when it broke out of the downwards channel. At the moment, I don't see anything in the price action to suggest any huge move higher or lower any time soon but I wouldn't be surprised if $206 were to fail once again and we resume the downwards trend.
What to watch out for:
A retest of $231. If it fails here then "nothing new." Could mean a resumption of downwards trend. If it breaks and holds it then we will reevaluate from there.
How it handles $206. Could mean an eventual resumption of the town trend if it fails to hold.
$175 major support. Look out below if this were to not hold.
Long story short, sit tight and we need to see how this sideways movement shakes out.
I've been looking to pick some more up
I hear you. I want to as well but I have a feeling Ethereum has one last leg downwards to go.
We may, either way I certainly feel the downslide is coming to an end