ETHUSD : Speculative
Updated
ETHUSD pair on BTCe is showing a bearish momentum but there is a possibility of a major pullback once the OBV reaches the support line. Expect a trend reversal in the next few days.
Analysis of indicators:
Analysis of indicators:
- MACD indicates negative momentum: Expect a price correction to 188.
- RSI : RSI is currently in the over purchased category --> Another indication for a short term sell
- OBV: This is perhaps one of the key indicators to look for in the current price speculation. OBV has a support line(light green) where ETH is currently heading to. It will be interesting to see if the support line holds. If it holds expect some serious trend reversal else ETH price is going to fall further to the 78.6% FIBO level.
Trade active
ETH price is still speculative. Depending on some key indicators (RSI going lower) we can expect an immediate correction to 130 or a slight uptrend followed by correctionNote
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Short term trend reversal from 160$ . Look to buy around this price range.
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