ETH Stabilizing After Correction

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ETH Stabilizing After CorrectionBy Dmitriy Gurkovskiy, Chief Analyst at RoboForex By Friday, February 21st, emotional sales in the ETH have stopped. The digital currency is stabilizing around $260.75. On H4, the Ethereum demonstrates the development of a correctional phase shaped as a Triangle. The Triangle is forming around 61.8% Fibo in relation to the previous downtrend. Judging by the descending dynamics of the MACD, the market is preparing for a decline in the mid-term. The current market situation along with the indicator dynamics hints on a potential breakout of the lower border of the Triangle and a decline to 50.0% ($221.55) and 61.8%

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