Bullish momentum continues as we look to make another test at 3400 w/ a potential breakout to 200EMA; daily has a chance to close in the green for the first time in 2 weeks.
A drop here would send us back to 3250-3200 but may also cause another down-step with the chance of breaking through the highlighted zone.
Interesting to note that the average D1 convergence period has been ~15-20 days for the past 6 months. IMO this is a possible indicator that the growth of the market is scaling somewhat proportionally with the amount of sellout happening. This would be a good sign for
ETH due to the substantial price increase over the last year and a half.
A drop here would send us back to 3250-3200 but may also cause another down-step with the chance of breaking through the highlighted zone.
Interesting to note that the average D1 convergence period has been ~15-20 days for the past 6 months. IMO this is a possible indicator that the growth of the market is scaling somewhat proportionally with the amount of sellout happening. This would be a good sign for
ETH due to the substantial price increase over the last year and a half.
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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.