ETH falls through $134 support but doesn't fall far

30 thg 12, 2019

(Continuation from previous posts) ETH spent a brief bit of time above the 20 EMA on the daily chart as it headed for a collision with a long term downward trendline. However, the ~$134 support it saw did not hold and it broke down below it, finding support at the 20 EMA on the 4 hourly. If this support breaks, it will likely find strong support around $124 from an upward trending support line that can be traced back to 2017. Sideways consolidation in the range between the yellow and green trendlines looks likely before it is forced to break out on or before 1/9/19, when these two lines converge. Will it see the volume needed to break to the upside?