Ethereum at a significant resistance here, to me it looks like we are in for some retracement.
Keep a eye out for a possible SR flip at one of the below levels and a stoch/rsi reset on Lower timeframes if sell off does occur.
We may paint a large flag pattern and bounce off one of the support areas.
280$ and 250$ are strong support areas if we do come down.
Meanwhile if we claim 334 and flip it as support i can see us heading to 363 the top of the zone.
Keep a eye out for a possible SR flip at one of the below levels and a stoch/rsi reset on Lower timeframes if sell off does occur.
We may paint a large flag pattern and bounce off one of the support areas.
280$ and 250$ are strong support areas if we do come down.
Meanwhile if we claim 334 and flip it as support i can see us heading to 363 the top of the zone.
Note
I would like to see a flag paint here with a stoch / rsi reset then can see Ethereum go again Note
Small timeframe; bearish in short term if we lose this support Note
I also should note that Ethereum is closely tied to Bitcoin and Silver so if they both have some upside Ethereum is likely to follow.Note
Bearish until proven otherwise for me.Not going to short it, the uptrend is strong lately.
But being cautious. waiting for a clear setup.
Note
Possible flag on ETH now
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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.