EthereumShort
Ethereum diverges bearish
PRICE ACTION
28D MA has crossed above the 13W MA; and in the process created a new local high @ just under $190. On the 4H chart, this movement has created a bearish divergence which has pivoted the overall position to bearish.
Bulls should be looking for a retest and support off the $170 range to help build a case that prices won’t return to test $120 again. The biggest concern is that price has significantly moved away from the averages; which are currently down below $150.
OPEN INTERESTS (BITFINEX)
Long: 2.98 Days
Short: 0.40 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 190, 195, 255
Support: 170, 155, 147 (28D MA)
PREVIOUS ANALYSIS
28D MA has crossed above the 13W MA; and in the process created a new local high @ just under $190. On the 4H chart, this movement has created a bearish divergence which has pivoted the overall position to bearish.
Bulls should be looking for a retest and support off the $170 range to help build a case that prices won’t return to test $120 again. The biggest concern is that price has significantly moved away from the averages; which are currently down below $150.
OPEN INTERESTS (BITFINEX)
Long: 2.98 Days
Short: 0.40 Days
RELATIVE STRENGTHS
- Micro (5m): Flat
- Short Term (4h): Bearish Divergence
- Mid Term (1D): Overbought
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Flat
- Macro (1W): Lower
KEY PRICE AREAS
Resistance: 190, 195, 255
Support: 170, 155, 147 (28D MA)
PREVIOUS ANALYSIS
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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.