Just Maybe... #Ethereum $ETH
Weekly
Looking at our highest timeframe we can see Ethereum remains in a downtrend with no major signs of reversal. Stochastic RSI showing momentum is at a halt from its previous bullish swings. ETH continuing to respect its bullish channel. A weekly close above $195.00 is a good sign we will continue to the upside, however a rejection from this level and expect the price to continue selling off to our $150 support.
Daily
Shifting over to our pattern timeframe we get a better perspective of the bullish channel shown in our weekly. Stochastic RSI showing momentum has formed a double bottom and we should expect the price to continue pushing to the upside. A daily close above $195.00 leaves ETH in a good position to continue up, a close below this level, and expect another sell-off. Expecting ETH to hit $225 in the next couple of days if we hold above this level.
4Hour
Finally looking over at our trigger timeframe we get a better picture of our most recent resistance and support. Stochastic RSI showing momentum was in favor of the bulls before selling off at $202.00. Looking for a 4hour close above $202 to see continuation to the upside or a 4hour close below $195.00 to continue to the downside. Crypto is starting to receive more and more good news as each day passes by, it will not be long before we see another bull market.
Related publications
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.