ETHUSD - 1D Chart Analysis
As we have already been accustomed to, any aggressive movement like the one registered in mid-February, is followed by a period in which the price is searching for a new direction.
These alternating intervals, which are already common for the entire sector, are making this market to be more interesting.
From the technical perspective, we have the Stochastic indicating a possible continuation of the price decrease which is also suggested by the lower trading volumes than before.
On the other hand, the MACD's position at the top of the Signal and the first green candlestick created after the 20 days Moving Average was crossed are announcing the possible attempt of the price to get closer to the first Resistance Level.
However, if the trading volumes will not gain in consistency, the main scenario is the one where the end of the bullish trend on a 1D chart will be over in the upcoming days.
These alternating intervals, which are already common for the entire sector, are making this market to be more interesting.
From the technical perspective, we have the Stochastic indicating a possible continuation of the price decrease which is also suggested by the lower trading volumes than before.
On the other hand, the MACD's position at the top of the Signal and the first green candlestick created after the 20 days Moving Average was crossed are announcing the possible attempt of the price to get closer to the first Resistance Level.
However, if the trading volumes will not gain in consistency, the main scenario is the one where the end of the bullish trend on a 1D chart will be over in the upcoming days.
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