We have reached the capitulation stage. At this moment the Ethereum chart starts to show signs of reversal.
RSI shows an oversold region being hit.
The volume chart shows a shadow on last week's candlestick, clear rejection of the zone below $1k/eth.
ETH $35k through Dec/22.
For some time in this bear market the crypto world was highly correlated with the American technology exchange NASDAQ.
Note that after the LUNA crash, we are seeing that this correlation has lost strength and this can be disastrous for a venture capital market.
Only in two moments did we have a sales force like the one we see on #nasdaq in the last 2 months. #RSI entering oversold region. We may be seeing a bottom. Also note the high correlation with #cryptocurrencies that could end up generating a new #Bullish scenario
In this graph two channels are fighting against one another.
Is possible to see if ETH pull up and broke the red channel, ETH can go upper and catch $3280.
If ETH loses the base of green channel, ETH looks for $2150.
This study is based on a channel that ETH respects from the beginning and its distortions (red ellipses) are corrected in a short time.
Due to the existence of futures contracts with ETH at $6k in Dec/21, we may have another distortion for buy/sell by the end of the year
