Is Ethereum on a sugar high?
PRICE ACTION
Starting off the week, ETHUSD showed signs on a Head & Shoulders; albeit with a warped right shoulder. However, with todays recovery across the markets – its fair to rule out this as a possibility now.
$175-180 is still relatively resistive; however with the OBV creeping up – it suggests that bulls are taking the opportunity to sell off rather than this creating a bearish case. Without a solid strategy; I wouldn’t be interested in trading this chart right now...
OPEN INTERESTS (BITFINEX)
Long: 2.08 Days
Short: 0.31 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 180, 190, 195
Support: 164 (28D MA), 160, 155
PREVIOUS ANALYSIS
Starting off the week, ETHUSD showed signs on a Head & Shoulders; albeit with a warped right shoulder. However, with todays recovery across the markets – its fair to rule out this as a possibility now.
$175-180 is still relatively resistive; however with the OBV creeping up – it suggests that bulls are taking the opportunity to sell off rather than this creating a bearish case. Without a solid strategy; I wouldn’t be interested in trading this chart right now...
OPEN INTERESTS (BITFINEX)
Long: 2.08 Days
Short: 0.31 Days
RELATIVE STRENGTHS
- Micro (5m): Flat
- Short Term (4h): Bearish divergence (maybe)
- Mid Term (1D): Chop
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Flat
- Macro (1W): Flat
KEY PRICE AREAS
Resistance: 180, 190, 195
Support: 164 (28D MA), 160, 155
PREVIOUS ANALYSIS
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.
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.