Ethereum (ETH) Price Shows Bear Flag, Expected to Head For $100

Since March 19, the second biggest cryptocurrency Ethereum has been trading above the $130 area. Despite some bullish forecasts, traders from TradingView have spotted a bear flag on Ethereum charts and are now expecting ETH to lose part of its recent gains soon.

‘ETHUSD might be moving in a Bear Flag’

Trader ‘Monetae_CB’ has shared his take on the course the ETH/USD pair is likely to take in the short term. In his TradingView post, he writes that the second biggest coin is about to make a strong decline due to a Bear Flag and move down to $114.70.

The bears are still in control of the market, the trader says and warns that another heavy price drop is coming.

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‘Ethereum is in correction’

Trader ‘EminenceGrise’ spreads the word that Ethereum is having a correction at the moment. He says that ETH is likely to drop to the levels of $127-$128 and then test the nearest level of resistance.

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‘ETH might catch a good decline’

‘David_Smith’ from TradingView has posted an ETH chart with his prediction of a possible upcoming price drop – down to $121, $114.95 or $109.

“We should keep an eye on the horizontal support again the prce can take a new correction to this zone. In case we have the support zone broken we might catch a good decline. Wait for confirmed signs.”

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