We like 89-minute charts when we have to get granular on a coin. Looking at the 89-minute bar of Ethereum (ETH), we noticed that ETH has broken below a parallel channel. That may mean a flush to a trend line at 165. Conversely, If Ethereum (ETH) was ever able to get a daily close back above 180, ETH likely turns around and breaks out of the top side of the channel.
Bottom Line: It looks like the adverse price action in equities is weighing on crypto. We can live with that because we think crypto will eventually become the haven from the exodus from equities. We believe Ethereum (ETH) could lead such a move, and we are willing to be patient buyers on big dips.
Bottom Line: It looks like the adverse price action in equities is weighing on crypto. We can live with that because we think crypto will eventually become the haven from the exodus from equities. We believe Ethereum (ETH) could lead such a move, and we are willing to be patient buyers on big dips.
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.