Ethereum Sell a break setup.
Ethereum - Intraday - We look to Sell a break of 2948 (stop at 3033)
Daily signals are bearish. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Short term MACD has turned negative.
Bias is mildly bearish today but we need to see a break of 2950 to confirm the downward pressure.
Price action has posted a bearish Engulfing Candle and is negative for short-term sentiment.
Our profit targets will be 2721 and 2641
Resistance: 3100 / 3200 / 3300
Support: 3000 / 2900 / 2800
Daily signals are bearish. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Short term MACD has turned negative.
Bias is mildly bearish today but we need to see a break of 2950 to confirm the downward pressure.
Price action has posted a bearish Engulfing Candle and is negative for short-term sentiment.
Our profit targets will be 2721 and 2641
Resistance: 3100 / 3200 / 3300
Support: 3000 / 2900 / 2800
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