Ethereum looks great on the macro chart and I’m feeling that we could be in line for a decent reversal but probably only after we’ve have one more leg down.

I published a chart over in TradingView via my Twitter account earlier today and I couldn’t be more bullish long-term on Ether, especially at these prices, although I wouldn’t rule out one more step down before we go back up.

My tweet earlier today

If you look at the macro chart so either on the weekly or three-day Ethereum is in a descending wedge pattern and we are coming to the point where it will look to break out.

A descending wedge pattern often leads to an upside breakout

With many Cryptocurrency at all time lows ETH looks a snip at today’s prices.

It is currently trading at $131.65 which is over 90% from an all time high of $1448.18 in early 2017.

Ethereum today launched their latest hard fork called Muir Glacier and it will take place block number 9,200,000. 

The upgrade comes just not long after the Istanbul hard fork which was released last month.

Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.

Uncle Bob has a well followed crypto related twitter account and can be viewed here


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