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Ethereum Failure will lead to 30% Altcoin retrace

Ethereum if you do not bounce from the level below, Altcoins crash 30% 


CACM Global and Aeries Rating’s, both Partners of Nouvive have found the importance of Ethereum. 

Ethereum has a positive correlation of more than 0.65 on average to 89% of all Altcoins in the top 250. 

This will mean that if Ethereum fails to bounce at the levels below, we will see a further 30% crash of Altcoins. 

What will Happen today? 


Nouvive has seen the $318 that we saw on the 17th of August as a Swing Failure Pattern, this means that a failure of momentum made ETH unable to surpass that figure. 

The same can be said of the figure of 14th August that we saw $252. 

Since then we have been travelling in a range of tipsy-ness. 

If Ethereum cannot stablise above $277, we will see it fall to $266. 

This $11 fail will mean that we will see all altcoins fall past 30% decreases.

There has been over the past 3 days, a lot of sell side pressure, far more than buy pressure. 

There is a bullish MA Crossover, that can be seen on a higher time frame. 

Nouvive recommends a sell. 

See the levels below:

If You want to sell: Enter a position at just below $278 with a take profit at below $266-258. Increasing Stop Losses as when in Profit. 

The first stop loss should be at $279.


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