ETHEUR - rising wedge and bearish divergence
ETH chart shows formed rising wedge pattern as well as bearish divergence.
Rising wedge - While price is still rising, and we see higher high and higher lows, price gap between highs and lows is closing fast and volume amount has been decreasing over couple weeks indicating we are approaching decision point. Price has hit 180 EUR and is currently facing resistance at this level. Rising wedge is considered bearish signal expecting price to start falling soon.
Bearish divergence - While price has been rising for couple weeks, all 3 indicators DMI, RSI and MACD show decreasing power of the trend and expectation of price to start falling as well.
Rising wedge - While price is still rising, and we see higher high and higher lows, price gap between highs and lows is closing fast and volume amount has been decreasing over couple weeks indicating we are approaching decision point. Price has hit 180 EUR and is currently facing resistance at this level. Rising wedge is considered bearish signal expecting price to start falling soon.
Bearish divergence - While price has been rising for couple weeks, all 3 indicators DMI, RSI and MACD show decreasing power of the trend and expectation of price to start falling as well.
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