OBV is still within a range compared to price indicating further downside may be in store in the short term. However, looking at the broader picture, I believe a breakout upward is still likely by May as OBV and MACD are setting higher lows.
With that said, if OBV breaks the range resistance and the downward triangle to the upside, this would be a good long...
Looks like Ethereum just broke the descending triangle. My personal targets are between 100-110 due to strong support/psychological support, though we may see some bounces as we go down. Fast capitulation of the market would be a more bullish indicator for me as it indicates less manipulation and less attempts at whip-lashing retail traders.
I don't post often, only to point out stuff that sticks out as obvious to me. Red line indicates hidden bearish divergence with higher highs on MACD and lower highs on price. Chart pattern is currently forming a Bear pennant with a target of 148. I've sold and set my buys accordingly.
While there seems to be some drama regarding Parity, as far as I can tell,...
OBV is used to find convergence and divergence. On the daily chart we see price testing a higher low and OBV making a lower low. This to me indicates bearish divergence if I'm interpreting it correctly. However, this looks really bad for Ethereum (and likely crypto as a whole). Any thoughts on how to interpret this would be appreciated.
The RSI appears to be showing hidden bearish divergence on the hourly time-frame in comparison to the price with Lower Highs on the price (LH) and Higher Lows on the RSI (HL), which is a bearish continuation pattern. For MACD to match RSI and further confirm the divergence, I suspect we'll see one more push to the mid 20's and then a drop to either 195 or...
