Time for a Correction?
I believe that we have more room for downside.
As many know, we have had an incredible run from Ethereum.
First area I'm looking for is 3750, as we have good support in this area.
The support trendline from July lows and September lows state that the area of support is somewhere in the 3700s.
I expect a bounce in these areas, if not, we have then broken our major trendline.
The RSI, however, has broken lower trendline from July 12 and Sept 20 lows.
In addition, MACD histogram has shown us 2 waves of upside, continued by 1 down. We are now close to finishing the second wave.
I would love to hear your opinion.. Thank you!
As many know, we have had an incredible run from Ethereum.
First area I'm looking for is 3750, as we have good support in this area.
The support trendline from July lows and September lows state that the area of support is somewhere in the 3700s.
I expect a bounce in these areas, if not, we have then broken our major trendline.
The RSI, however, has broken lower trendline from July 12 and Sept 20 lows.
In addition, MACD histogram has shown us 2 waves of upside, continued by 1 down. We are now close to finishing the second wave.
I would love to hear your opinion.. Thank you!
Note
Above 4600, my idea is disproved.
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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.