MrJEB
Long

ETHUSD - Will the 1H Break see follow through?

COINBASE:ETHUSD   Ethereum / U.S. Dollar
ETHUSD Saw a bit of a break on the 1H Time frame. With 1H SMA 200, and 100 Holding at healthy consolidation, it brings the 2H Into view. Will the break see follow through?

This Descending Channel has indicated stiff sell response recently (since Jan. 14th, seen in an analysis my other posts linked below). However, this break did see an uptick in volume , and Moving Averages seem to be providing support so far. ETH Bulls look to have a small bend in the Descending Channel presently, but will it break?

On the Upside:
  • $110 is providing stiff resistance
  • The 2 hour 200 SMA sits around $113 area and the 100 SMA perched under at $108
  • VPVR showing a lot of price action around $115 and a good deal of resistance
  • Bearish Volume is declining seen on the 1H Time Frame

    The Downside:
  • This descending channel has been formidable
  • The overall market is bearish
  • There needs to be some Bullish volume follow up

    Good Luck!

    Previous Post: 1H Tightening Range Broke Through:

    Previous Post: Predictable Recent Downtrend Channel .
Trade active: See post on : Failed Rally, or Chink in the Armor.

Comment: End of a near month long down trend (short term)? Or, will ETH USD have regression? Seems the Bulls chance is now, but what will it be?

Trade active: Volatility to return, ETHUSD is running out of room.

Comments

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