Looks like eth has been follwing this descending channel for a quite a while now but as suspected it hit the previously strong resistance level at about 358 and has now found it to be a nice support. MACD is showing bullish divergence on the daily chart right now. It looks like some life is coming back into eth, the rsi is at way oversold levels which this coin is seeing for the first time but also starting to climb on the daily showing a possible momentum shift. At these levels im feeling pretty confident for a swing up to around 478 where it could encounter some resistance once again. These are just my thoughts and interpretations of this chart for this coin and are in no way a buy signal, i am not a financial advisor of any sort and advise you to do your own research. Id love to hear some feedback from all of you and if you agree do me a favor and let me know. Happy trading everyone!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.