Updated
Ethereum Needs to Be Closely Watched
Ethereum is coming to a critical point in the next few days. It is still within the downward trend and is being support by the 50 day SMA and under the 20 day EMA.
If it doesn't break through the downward trend, it will be closely falling along the line of the downward trend until it falls under the 50 day SMA or breaks laterally.
I'd hold off before buying/selling until it's closed outside of the downward trend.
If it doesn't break through the downward trend, it will be closely falling along the line of the downward trend until it falls under the 50 day SMA or breaks laterally.
I'd hold off before buying/selling until it's closed outside of the downward trend.
Note
Ethereum needs to close the day above the trend line and currently there is a lot of bearish pressure. If it does not, expect to see ongoing selling and bearish pressure.Note
Ethereum has crossed the downward trend line but has not shot up which is not a good sign. I do believe Bitcoin will be the deciding direction here. If BTC breaks upwards, ETH will as well and gain more momentum, otherwise, down she goes!!!Note
This is the BTC trend which does not have any great bullish indicators.
Note
Ether is caught between Bitcoin movement, the 20 day EMA, the 100 day SMA and low volumes. I think this is still a wait and see.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.