$ETH - Etherum Daily Anaysis - Bittrex

Aug 5, 2018

Ethereum has been on a roller coaster over the last month losing more than half its value over the last year, though so many altcoins are based off the network i feel it will be one of the few that may last. Lots of altcoin values people say reflect the value of Ethereum as well so when we see ETH doing well over BTC altcoins tend to move the same way. On my chart here i have zones setup. Green is for current support zone, red for resistance and a purple support zone that reflects weekly support area. Ethereum has been in this support zone near the bottom for the last few days and today we have a possible reversal candle forming here but the last few days even when there has been a reveal we could not break through the zone for continued gains. I may take some buys here to accumulate some Ethereum even if this support zone breaks because right below this is the weekly support zone which tends to be stronger then daily. OBV is starting to slowly tick up and RSI shows flat, but this candle still has 6 more hours to run before we see the next.