ETH going down for the short term

Updated

The 50 days moving avg crossed the 2000 moving average and faced a critical resistance there before tanking. It attempted a bounce back up but faced resistance again at the 50day moving avg. The StochRSI also suggest an insuing downtrend. The %D line just crossed below the %K line.

This is my first TA post so take everything with a grain of salt.

Any criticism you give, I will greatly appreciate.

Note

Don't have a particular reentry price but I am looking at around 800-900 range
The 200MA on the 4hr time frame is located around that area and I suspect it will bounce from there.

Note

Also important to note that we are seeing higher lows

Note

Also forgot to add that we can see a clear double top

lovahboy222

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.