EthereumShort
Possible pullback to $1400-$1500 before ETH moons to $2000
Daily Chart:
- The daily chart shows that price broke above a key level at $1400 and is due for a pullback.
- Most breaks in price usually like to pullback to "retest" a level before continuing the bull trend.
4H Chart:
- Price is decelerating.
- Price failed to make a higher high
- Bearish MACD
- If you draw in Fibonacci lines price retracement shows that the .618 level is between $1500 and $1400.
1HR Chart
- Price broke below the 50 EMA which increases the probability of a trend change on the 1hr chart.
- More obvious bearish MACD
- Bearish volume can also be observed here as well.
- The daily chart shows that price broke above a key level at $1400 and is due for a pullback.
- Most breaks in price usually like to pullback to "retest" a level before continuing the bull trend.
4H Chart:
- Price is decelerating.
- Price failed to make a higher high
- Bearish MACD
- If you draw in Fibonacci lines price retracement shows that the .618 level is between $1500 and $1400.
1HR Chart
- Price broke below the 50 EMA which increases the probability of a trend change on the 1hr chart.
- More obvious bearish MACD
- Bearish volume can also be observed here as well.
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.