This article was posted on Tuesday, 14:58, UTC.

The major coins are all in the red today, with Ethereum and small cap coins leading the way lower, and Bitcoin and Litecoin outperforming the market considerably. To put the current move into perspective, Ethereum and Bitcoin first reached the current price at the end of May, and the ETH token is still trading 20 times higher than its value in January.

With the current moves in the Ethereum ecosystem looking panicky, small long positions could already be opened, but we advise traders to still wait with significant new positions until the short-term trend changes. With the long-term picture now looking neutral, let’s see how the major short-term charts stand right now.