Ethereum Risks Crashing to $200 as Price Breaks Multi-Week Support
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Ethereum breaks out of a Bear Flag pattern to signal further downside moves. Source: TradingView.com
ETH/USD is now testing the intermediary downside target (dashed green; $350) of the same Bear Flag for a sharp pullback.
After price breaks below Flag, traders measure the short target by first measuring the distance of the initial decline, i.e., the height of the Flagpole. Source: TradingView.com
With $192 in view, an overstretched move towards the said target could have traders eye a string of Fibonacci retracement levels.
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