Ethereum Price Key Highlights
After spending weeks inside a rising wedge pattern, ethereum price finally picked a direction and might be ready for a sustained move.
Price could head further south now that it broke below the rising wedge support. However, the previous breakdown failed to draw enough momentum.
Ethereum price could have another chance at going for a longer-term trend, as it made a strong downside break from a consolidation pattern.
How Low Can It Go?
Ethereum price is currently testing the support at the moving averages, which have previously held as dynamic inflection points. A move below these indicators could add more confirmation that a downtrend is underway.
A selloff could last until the wedge lows around 0.00160 or much lower. RSI is heading down, which means that sellers are in control and that ethereum price could move south as well. On the other hand, stochastic is trying to make its way up to indicate a return in buying pressure.
http://www.newsbtc.com/2015/11/25/ethereum-price-technical-analysis-for-25112015-sellers-unite/
