TECHNICAL ANALYSIS OF ETHEREUM – ETH DECEMBER 2018

TECHNICAL ANALYSIS OF ETHEREUM – ETH DECEMBER 2018

Introduction

As we experience an increase in regulatory adoption, the price of Ethereum continues to plummet following an increasing bearish sentiment from speculators. Join us as we carry out a technical analysis of the ETHUSD for the month of December.

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Monthly Chart of the ETH/USD

Similar to every other cryptocurrency in the top 20, the price of Ethereum made an epic upward surge in price throughout the year 2017. The ETHUSD pair established four consecutive bullish closing candles with a breakout above each successive high. A bearish close on February of 2018 nullified the bullish rally thereby confirming a false break pattern.

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