EthereumShort
Is Ethereum suffering from Long Weekend blues?
PRICE ACTION
The 28D MA is at $164.76; so, expect support here – which is the same trend line that generated the recovery on 15-April. Additionally, the 4H chart is leaning into oversold RSI territory off the based on a Bearish Divergence pattern.
Volume is garbage! – both sides of the market are unwilling to make any moves of scale; so, this is a watch and wait setup.
The 5m chart is showing both lower highs and lower lows; which supports the foundations for the active short position.
OPEN INTERESTS (BITFINEX)
Long: 2.00 Days
Short: 0.35 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 180, 190, 195
Support: 165 (28D MA), 160, 155
PREVIOUS ANALYSIS
The 28D MA is at $164.76; so, expect support here – which is the same trend line that generated the recovery on 15-April. Additionally, the 4H chart is leaning into oversold RSI territory off the based on a Bearish Divergence pattern.
Volume is garbage! – both sides of the market are unwilling to make any moves of scale; so, this is a watch and wait setup.
The 5m chart is showing both lower highs and lower lows; which supports the foundations for the active short position.
OPEN INTERESTS (BITFINEX)
Long: 2.00 Days
Short: 0.35 Days
RELATIVE STRENGTHS
- Micro (5m): Weak
- Short Term (4h): Bearish Divergence
- Mid Term (1D): Lower High
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Falling
- Macro (1W): Flat
KEY PRICE AREAS
Resistance: 180, 190, 195
Support: 165 (28D MA), 160, 155
PREVIOUS ANALYSIS
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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.