Is Ethereum forming a bearish flag pattern?

in #leofinance2 months ago

ethereum_12th_july_2021.jpg
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After Eth broke down from the ascending wedge, it is now consolidating. Is this a possible bearish flag pattern? My biggest holding in my portfolio is Ethereum. I do hope it does not retest 1800 USD. There is a strong support at the moment at around 2000 USD which is the 200 day moving average which is the blue line.

Hopefully it holds.

London Fork is just a couple of weeks away. If Ethereum does break down to 1800USD, I do hope that I have enough cash to buy the dip. Paraguay is planning to make Bitcoin legal tender soon after El Salvador. This is bullish from my view. Let's see where Ethereum goes.

@luueetang

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Ethereum will reign above all over time in my opinion. I don’t think retest will be $1,800, but more so around $2,000. I’m unsure though and we will have to wait and see!

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Hi hi .. thank you for ur comment.. I do agree with u.. Eth is gonna be a great long term investment.. hopefully it does not dip back to 1.8k.. been close to two months since 4.2k... 😀😀 I do think it's gonna do well with short term volatility.. have a good day.. pal.