ETHUSD; Another lower high?
It seems like this coin is continuing the string of lower highs and lows marking bear's momentum. This pattern has to be broken in order to see a change in direction.
Also here the Bollinger Bands are tightening and this could see a better move ahead (see previous event at the arrows).
The bigger question is ofcourse if market will set a lower low after this lower high. The latest low is seen at around 403. So, what should be watched is if the market is able to drop below this or not. If bulls step in earlier (watch the 440/420 support zone for this on the current drop) it might hint at the positive divergendce that the RSI indicator is showing might come into play.
A higher low always has to be confirmed by a higher high (a move over 496).
For now however, no signs of the bearish pattern ending but when above mentioned hints play out it could become interesting.
Also here the Bollinger Bands are tightening and this could see a better move ahead (see previous event at the arrows).
The bigger question is ofcourse if market will set a lower low after this lower high. The latest low is seen at around 403. So, what should be watched is if the market is able to drop below this or not. If bulls step in earlier (watch the 440/420 support zone for this on the current drop) it might hint at the positive divergendce that the RSI indicator is showing might come into play.
A higher low always has to be confirmed by a higher high (a move over 496).
For now however, no signs of the bearish pattern ending but when above mentioned hints play out it could become interesting.
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