EthereumUpdated Ethereum!
I ´ve had the hope that ETH would follow BTC with some delay. But instead of rising prices we´ve got falling prices.
There are no new fundamental data (nothing really serious) which could explain the new fall of ETH. SEC didn´t register the BTC - ETF from Winklevoss, but this is no reason for ETH to get weaker. On the contrary, ETH could have profited from the development in BTC.
ETH is just testing the lower limit of the wedge; it should not break through to not disturb the little hope of better times in the next days. If it stays within the triangle and reaches the peak, then we´ve got two possibilities, which I´ve drawn into the chart.
The trading volume is relatively low, RSI is falling (just crossed the ascending line) and MACD turning within the neutral zone to the bottom. So the probability is higher for lower prices than for higher prices - at the moment.
Perhaps we´ll get better times once ETH will have rebounded on the mentioned support line (> 420$).
There are no new fundamental data (nothing really serious) which could explain the new fall of ETH. SEC didn´t register the BTC - ETF from Winklevoss, but this is no reason for ETH to get weaker. On the contrary, ETH could have profited from the development in BTC.
ETH is just testing the lower limit of the wedge; it should not break through to not disturb the little hope of better times in the next days. If it stays within the triangle and reaches the peak, then we´ve got two possibilities, which I´ve drawn into the chart.
The trading volume is relatively low, RSI is falling (just crossed the ascending line) and MACD turning within the neutral zone to the bottom. So the probability is higher for lower prices than for higher prices - at the moment.
Perhaps we´ll get better times once ETH will have rebounded on the mentioned support line (> 420$).
Note
Note
2h - candlesThe swing trend line on 420$ stopped the fall of ETH. RSI has turned up within the oversold zone. If ETH manages to re-enter the wedge it offers the possibility for a new rally as mentioned above.
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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.