Hi everyone
Ethereum on the shorter timeframe charts is moving into a descending channel.
from intraday charts view we can see more strength and volume that may cause the
price push upside a little more to test our channel's topline again.
however on the longer timeframes things may little different.
......................................................
on the weekly chart MACD line crossed signal line and histogram pushed into the
negative side. price is still below the daily 21MA. indicating more downward pressure.
so in my view in shorter timeframes we may see a limiter upward pressure but in longer
timeframes (more than daily chart) we may still move downside. let's see
Enjoy the market
Ethereum on the shorter timeframe charts is moving into a descending channel.
from intraday charts view we can see more strength and volume that may cause the
price push upside a little more to test our channel's topline again.
however on the longer timeframes things may little different.
......................................................
on the weekly chart MACD line crossed signal line and histogram pushed into the
negative side. price is still below the daily 21MA. indicating more downward pressure.
so in my view in shorter timeframes we may see a limiter upward pressure but in longer
timeframes (more than daily chart) we may still move downside. let's see
Enjoy the market
Note
we are still moving into a descending channel and I assume for new uptrend takes more time.
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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.
Related publications
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.