Ethereum looks poised to attempt to break Falling Wedge. Long!
4 hour is finally above 50 sma, if 50 sma holds, should break to the upside and then we got the resistance from the falling wedge at like 174-175. If it breaks that resistance, it should run really nice.
On the 15 min chart, we just broke out to the upside from the short term wedge it was in. Also now finally above 50 sma (purple), which could serve as support for next leg up to break the descending price channel (red) and then the 200sma on 15m.
Holding above the 4h 50ma (purple line) is what we are hoping to hold above would be bullish short-term as it'd been overhead resistance since August 24th. Bullish divergence is seen on the 4h RSI
If this plays out and we break out of the macro wedge, 4h 200sma would be likely next resistance @$183-190.
-lemme know your thoughts <3
On the 15 min chart, we just broke out to the upside from the short term wedge it was in. Also now finally above 50 sma (purple), which could serve as support for next leg up to break the descending price channel (red) and then the 200sma on 15m.
Holding above the 4h 50ma (purple line) is what we are hoping to hold above would be bullish short-term as it'd been overhead resistance since August 24th. Bullish divergence is seen on the 4h RSI
If this plays out and we break out of the macro wedge, 4h 200sma would be likely next resistance @$183-190.
-lemme know your thoughts <3
Note
4 hour is setting up nicely to have a MACD bullish crossover tooTrade active
And it broke out :D
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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.