Not sure why the sudden bleeding with $ETH, but looks like we're hitting a historical support/resistance level here, which coincides with the .618 retracement line. Also looking oversold on all timeframes, just awaiting confirmation of a reversal/bottom...in which case we're looking at a good 15% discount opportunity.
Also not shown on this chart, but large disparity on the Ichimoku cloud between the Kijun Sen and Tenkan Sen, indicating something has to correct.
Also not shown on this chart, but large disparity on the Ichimoku cloud between the Kijun Sen and Tenkan Sen, indicating something has to correct.
Comment:
Support level at the .618 retracement held and RSI still oversold...the downtrend seems to have stopped/paused, just waiting to see what happens next...
Comment:
Well, it sure didn't stop. Appears on its way to 78.6% retracement