I see a potential pullback in the SHORT - NEAR TERM for Ethereum.
I have marked 3 potential support targets.
Medium to Long term I am still bullish and expect ETH to get back to its ATH.
However, short term charts are showing me this:
- The higher high was rejected and met with heavy resistance so much so that the short term trend changed bearish.
- Currently trading below 20SMA
- ETHUSD seems to be trading sideways under the 20SMA. This makes me "nervous" because it looks similar to the 25-26 Nov timeframe (the not-so-nice Thanksgiving special...)
In this highly volatile market it is ALSO possible that ETH can see a sudden increase in volume and momentum and that we break out above the 20SMA before going higher. How you would confirm that is by looking at the FIB BB and also the STOCH RSI. If the red RSI turns to move upwards whilst the blue STOCH moves up, this will be a sign of upward pressure.
However, I cannot go on "possibility" because I am not a fortune teller. (wouldn't that have been helpful …)
So therefore, I am making my conclusion on what I am seeing right now on the charts and from the indicators.
Please hit like 😊👍
I appreciate your support, many thanks.
Ev
I have marked 3 potential support targets.
Medium to Long term I am still bullish and expect ETH to get back to its ATH.
However, short term charts are showing me this:
- The higher high was rejected and met with heavy resistance so much so that the short term trend changed bearish.
- Currently trading below 20SMA
- ETHUSD seems to be trading sideways under the 20SMA. This makes me "nervous" because it looks similar to the 25-26 Nov timeframe (the not-so-nice Thanksgiving special...)
In this highly volatile market it is ALSO possible that ETH can see a sudden increase in volume and momentum and that we break out above the 20SMA before going higher. How you would confirm that is by looking at the FIB BB and also the STOCH RSI. If the red RSI turns to move upwards whilst the blue STOCH moves up, this will be a sign of upward pressure.
However, I cannot go on "possibility" because I am not a fortune teller. (wouldn't that have been helpful …)
So therefore, I am making my conclusion on what I am seeing right now on the charts and from the indicators.
Please hit like 😊👍
I appreciate your support, many thanks.
Ev
Handel aktiv:
Seems we are bouncing up from 50sma, keep an eye on the indicators let's see if we will go lower
Handel aktiv:
As per prediction - ETH bounced from support $560, but this short term bear run is not over yet
