EthereumShort
ETHUSD may be heading for mid-term correction
Updated
You can see some divergence in both RSI and MFI compared to the previous attempt at the long-term resistance. The coin is already overbought yet it still cannot break the resistance. Early entrants will choose to lock in their profit, draining the steam from ETH in the short-term.
Mid-term, it may seek support at the long-term trend line.
Of course, most likely it will bounce off the short-term trend line to retest the resistance, but unless some big-money market-makers commit, the general market will not likely break it.
Having said that, ETH appears to have some big-money backers that save it every time it falls. So don't short this coin. Sit on the sidelines and observe. If it really breaks out above $385-390, get in.
Mid-term, it may seek support at the long-term trend line.
Of course, most likely it will bounce off the short-term trend line to retest the resistance, but unless some big-money market-makers commit, the general market will not likely break it.
Having said that, ETH appears to have some big-money backers that save it every time it falls. So don't short this coin. Sit on the sidelines and observe. If it really breaks out above $385-390, get in.
Note
This is embarrassing. Just minutes after I posted this they pumped ETH above $400.There are some big market-makers behind ETH. It's better to follow them.
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