ETH is coming off a pretty good recovery run from the low 180s. It is finding the toughest resistance at the areas 225 and 228. While it is currently in a sym. triangle this should be treated with skepticism as sym. triangles are a good representation of a continuation of the underlying trend; which in this case is a overall bearish trend, while this recovery from the low 180s was nice, it is a spike and doesn't confirm a trend change. I would trade cautiously at this area. Maintaining 220+ is crucial for ETH in the upcoming days and while a dip to 197-212 area is likely with enough volume I believe that the motivation is there to test resistance at 232 and 235.
Trade active
Note
Note
Notice rejection at the 200 MA on the 15 minute chart. However, the 12/26 MAs are curling up to face the 200 MA. This could be a good sign for a stronger close than I thought.
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.
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.