Ethereum Second Round Of Bearish Signals
It is new/different how Ethereum was left behind as Bitcoin continued to grow...
I guess it has to do with Ethereum now being used for DeFi and many other projects so it starts to move on its own.
ETHUSD printed a strong bearish candle yesterday and is now moving below EMA10.
This bearish candle also closed just below the 1-Sept. price peak.
The volume on the green highlighted candle is also above-average/big.
With the MACD and RSI printing bearish divergence, the potential is there for prices to continue to decrease.
I've marked multiple price levels where support can be found if prices drop.
These levels are based on EMAs (EMA100, EMA200, and EMA300) as well as Fib. retracement support.
What about the ETHUSD bulls?
This chart is technically bullish as we have a strong RSI and a MACD in the bullish zone...
But before prices can go any higher, the $488-$495 barrier needs to be conquered on high volume, or else prices will drop.
Any trading below $488-$495 and we stay open to seeing a drop.
If this level is cleared, we can say that the bulls are back on.
Namaste.
I guess it has to do with Ethereum now being used for DeFi and many other projects so it starts to move on its own.
ETHUSD printed a strong bearish candle yesterday and is now moving below EMA10.
This bearish candle also closed just below the 1-Sept. price peak.
The volume on the green highlighted candle is also above-average/big.
With the MACD and RSI printing bearish divergence, the potential is there for prices to continue to decrease.
I've marked multiple price levels where support can be found if prices drop.
These levels are based on EMAs (EMA100, EMA200, and EMA300) as well as Fib. retracement support.
What about the ETHUSD bulls?
This chart is technically bullish as we have a strong RSI and a MACD in the bullish zone...
But before prices can go any higher, the $488-$495 barrier needs to be conquered on high volume, or else prices will drop.
Any trading below $488-$495 and we stay open to seeing a drop.
If this level is cleared, we can say that the bulls are back on.
Namaste.
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