ETH Potential Break Up!
Couple days of inaction and consolidation for ETH! RSI is back to neutral zone (58).... Price is holding nicely above 21 MA. According to what I'm seeing, a break up is highly probable, but I'm not sure about the time! It can happen tomorrow or closer to the weekend. If it can break strongly through $404 resistance then we are off for a strong rally up to 261.8% Fib Extension or $531.... I would recommend to wait for confirmation before opening positions.....
There is also a chance for more downward selling pressure, in that case $360 or 50 MA will be the first resistance. I will give this less chance at the moment.....
Let's see how it goes.......
There is also a chance for more downward selling pressure, in that case $360 or 50 MA will be the first resistance. I will give this less chance at the moment.....
Let's see how it goes.......
Related publications
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.