Ethereum update on 1D - down move incoming - target 285 $
Dear traders and followers,
the Ethereum price is since beginning of August in "sideways" movement ( 360 - 410 $ ) and seems to lose buy volume. If the market doesn't start another up wave and break & close above drawn red resistance line a strong down correction to 280- 285 $ is very likely to happen because market wasn't strong enough to form a higher high on the daily chart.
Indicators:
- MACD buy volume is near 0 line / reversal to sell volume and the baselines are near bearish crossing --> sell signal
- RSI baseline going back into usual range after moving several days in the overbought area --> sell signal
- Generell sell volume start to rise --> sell signal
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Please hit the like button if you share or like this idea.
Thanks for your support !
the Ethereum price is since beginning of August in "sideways" movement ( 360 - 410 $ ) and seems to lose buy volume. If the market doesn't start another up wave and break & close above drawn red resistance line a strong down correction to 280- 285 $ is very likely to happen because market wasn't strong enough to form a higher high on the daily chart.
Indicators:
- MACD buy volume is near 0 line / reversal to sell volume and the baselines are near bearish crossing --> sell signal
- RSI baseline going back into usual range after moving several days in the overbought area --> sell signal
- Generell sell volume start to rise --> sell signal
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
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