Ethereum analysis - 4 hour chart.
Updated
Overall the price has been in an ascending channel with well defined psychological support and resistance as seen by our blue trendlines. This falls in line perfectly between roughly the 0.786 and 1 fib levels.
Ichimoku - The clouds senkou lines have been rising. This tells us the average price equilibrium is rising. Strong supports on these levels as they align with fib .7 and 1. Tenkan and Kijun sen are beginning to range. Downward price action is losing momentum.
MACD - oversold and we should see a test one the resistance line and look for a bullish cross
RVI - should test support at 36.1 before a bounce
Stochastic RSI - Currently testing resistance. K line bearish moving down.
ADX - Trend has been losing steam
DIs - bearish divergence on the DIs they should expand before testing resistance and we should look to see a bullish cross
Ichimoku - The clouds senkou lines have been rising. This tells us the average price equilibrium is rising. Strong supports on these levels as they align with fib .7 and 1. Tenkan and Kijun sen are beginning to range. Downward price action is losing momentum.
MACD - oversold and we should see a test one the resistance line and look for a bullish cross
RVI - should test support at 36.1 before a bounce
Stochastic RSI - Currently testing resistance. K line bearish moving down.
ADX - Trend has been losing steam
DIs - bearish divergence on the DIs they should expand before testing resistance and we should look to see a bullish cross
Note
Price broke downside of channelTested the top of the Kumo
Price then extended along the bottom trajectory of channel
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