ETH - Moving to 120 and 112 unless ETH closes above 182

ETH - Moving to 120 and 112 unless ETH closes above 182
Ethereum / US Dollar (calculated by TradingView) POLONIEX:ETHUSD
mycotoxin

ETH has fallen below the support line set in Dec 2018 ,
This support line broke the fall from ETHs all time high at 1440
so breaking below this support line is a big deal and shows extreme weakness in ETH currently .

ETH has attempted to recover but has been rejected .
When the Moving averages are enabled it shows why as ETH now sits below the following:


a) The MA50 moving average
b) The Dec 2018 long term support line.
c) Horizontal support line set in 2017
These are strong elements for ETH to tackle .

For ETH to recover it has to close above 182 before Sunday - This will provide a move to the 250 area,
However if ETH is not able to close above 182 , then ETH will head back lower to 167, 140 , 120 and then 112
where a strong bounce can occur,