After overcoming the $ 250 barrier, Ethereum has been gaining momentum and has reached $ 480 in recent months.

Since then, the currency has shown signs of correction and, at the time of writing, it is close to US $ 340. What to expect from this currency in the coming weeks and how to prepare for any correction?

Check out the analysis below.

Weekly chart

Let's start our analysis with the weekly chart. We see Ether still far from the $ 250 region, which is now the next medium-term support for cryptocurrency.

If the short-term support at $ 300 / $ 320 is lost, we can see her fetching $ 250 again. Then, a new bullish wave can occur, which can reach US $ 600:

Weekly Chart (W)

Daily chart

On the daily chart, we see the price above short-term support at $ 300 / $ 320 after losing a bullish channel.

In case the support is lost, we can see the price fetching the US $ 250:

Daily Chart (D)
Daily chart (D)

Right now, I'm betting on the currency drop. One of the patterns that I observe in the market and is a winner in the long run is indicating a fall in Ether since August 28th.

Thus, since then I am sold in the short term:

Daily chart (D)
Daily chart (D)

Conclusion

For the long term, I believe Ether is cheap. Having a little bit in a cryptocurrency wallet can be interesting.

Even if it falls more in the next few days, I intend to buy more Ether to balance my wallet.

You can't tell where Ether is going, we don't have a crystal ball. However, if you have a proven winning strategy, in the long run you will win if you follow its signals.

Also read: Investing in Bitcoin using heads or tails

Also read: Find out which is the best day to buy Bitcoin

Also read: What is the best month to buy Bitcoin?

Warning: The information contained in this document is not guaranteed, is not intended to be comprehensive and is strictly for informational purposes only. Therefore, it should not be considered an investment / trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the precision, accuracy, or completeness of the information in its analysis and, therefore, will not be responsible for any losses incurred.

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