The price has been channeling from the 760 to the 813 region thereabouts.
Appears we have a triple bottom or more.
RSI is pegging low for an upturn.
This is all on a 1hr chart so it may only go to resistance again and fall back down to support... or deeper.
On a 1day chart if ETH goes lower the next support could be around 735 or 685.
No buy signal yet. Wait to break the resistance of 813+ now imo.
Do your own due diligence. Good luck!
Appears we have a triple bottom or more.
RSI is pegging low for an upturn.
This is all on a 1hr chart so it may only go to resistance again and fall back down to support... or deeper.
On a 1day chart if ETH goes lower the next support could be around 735 or 685.
No buy signal yet. Wait to break the resistance of 813+ now imo.
Do your own due diligence. Good luck!
Comment:
The last option is a break upward on shorter time frames... 1HR and 30min.
The last option is a break upward on shorter time frames... 1HR and 30min.
Been on vacation. Also been monitoring what's going on. Still holding some ETH. On the 4HR chart it appears to be bouncing between 600 and 748. If it breaks 748 this is a signal to perhaps jump in but I think it will go lower and possibly bounce from the 600 again - better entry point.
Now if we look at the 1D chart it appears to want to go a bit lower and then turn up via the MACD. This could indicate that the 4HR will certainly turn lower but the 1D will begin to slowly turn upward after this next 4HR trend drop.
Not adding to my position here. Observe for lower drops to 600 perhaps.
With that said... we've seen what has happened so far. More drops are possible. BTC can drop lower. ETH can follow or ETH can finally break away from BTC too and rise up after the final 4HR trends.
All speculation on my part. Keep watch and good luck!
NOTE: Go look at BTC and see how it's looking. This is another good indicator for the overall crypto market.