Ethereum 3D Oversold | Comparing To Bitcoin (170% to 200% Next)
We just looked at the 3D chart for Bitcoin (BTCUSD).
(See 'Related ideas' below)
We would like to compare it with Ethereum (ETHUSD) to see if the signals agree.
For ETHUSD, the 22-Jan. 2022 3D candle has no significant volume, instead of green closed red.
On the other hand, the 18-June candle has the highest bull/green volume since May 2021, more than a year ago.
High purchase volume at support signals that the bulls are protecting this level.
There is strong buying below $20,000 and when we have this type of scenario, this chart setup, a relief rally is due to the counter-trendline in the weeks to come.
There aren't many strong signals/indicators pointing to a price jump... Only the RSI, that's the only exception... Crypto tends to recover when oversold.
Based on the last low and the counter-trendline target, we are looking at a relief rally that will push ETH prices to around $2,400 - $2,660 or a 170% to 200% price jump.
Namaste.
(See 'Related ideas' below)
We would like to compare it with Ethereum (ETHUSD) to see if the signals agree.
For ETHUSD, the 22-Jan. 2022 3D candle has no significant volume, instead of green closed red.
On the other hand, the 18-June candle has the highest bull/green volume since May 2021, more than a year ago.
High purchase volume at support signals that the bulls are protecting this level.
There is strong buying below $20,000 and when we have this type of scenario, this chart setup, a relief rally is due to the counter-trendline in the weeks to come.
There aren't many strong signals/indicators pointing to a price jump... Only the RSI, that's the only exception... Crypto tends to recover when oversold.
Based on the last low and the counter-trendline target, we are looking at a relief rally that will push ETH prices to around $2,400 - $2,660 or a 170% to 200% price jump.
Namaste.
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