The ETH USD Price May Rebound to Around $3,300 in the Near Term
The use of the Phoenix Ascending indicators and Bad Ass Bollinger Bands to predict the ETH USD price in the late near term to early mid term (e.g. 3-5 days). Please note that the Phoenix Ascending indicators and are freely available. Please see publications by @WykoffMode to learn how to use and interpret these indicators. As of May 19, the green exponential moving average (EMA) in the 12H descended to around 2, the red stochastic relative strength index (sRSI) descended to around 11, and the blue least squared moving average (LSMA) descended to around 10; the last time levels this low was observed for the green EMA, red sRSI, and blue LSMA was late March 2021. Please see the green EMA, red sRSI, and blue LSMA levels within the white oval in the chart. Please note that after the green EMA, red sRSI, and blue LSMA reached their bottom in late March 2021, they exhibited a hard upward move from around March 25 through April 2, which corresponded to an substantial upward move in price. As of May 19, 2021 the green EMA, red sRSI, and blue LSMA appear to have bottomed out. Might they reverse and make a strong upward move? Might we see a corresponding strong upward move in the ETH USD price?
As illustrated by the green dotted line, the green EMA, which has reached bottom or a level close to bottom, might reverse direction and trend upward, crossing level 50 around May 21 or 22. Similarly, the red sRSI, which has reached bottom or a level close to bottom, may also reverse direction and trend upward, crossing level 50 around May 24 or 25. As shown by the white dotted line, the WE may exhaust, trend upward, and cross level 50 around May 23 or 24. We might observe the ETH USD price to rebound to around $3,300 in the next 3 to 5 days. This is not financial advice. I am not your financial advisor. This is my opinion.
As illustrated by the green dotted line, the green EMA, which has reached bottom or a level close to bottom, might reverse direction and trend upward, crossing level 50 around May 21 or 22. Similarly, the red sRSI, which has reached bottom or a level close to bottom, may also reverse direction and trend upward, crossing level 50 around May 24 or 25. As shown by the white dotted line, the WE may exhaust, trend upward, and cross level 50 around May 23 or 24. We might observe the ETH USD price to rebound to around $3,300 in the next 3 to 5 days. This is not financial advice. I am not your financial advisor. This is my opinion.
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A Pitchfork analysis of the ETH USD price from November 2020 to the present. As illustrated in the chart, the ETH USD price has, for the most part, ranged within the blue channel. The white arrows point to instances in which the lower boundary of the blue channel served as support. The pink arrow points to an instance in which the upper boundary of the blue channel served as resistance. The blue arrow points to a recent instance in which the ETH USD price breached the upper boundary of the blue channel. It’s possible for the ETH USD price to rebound to the 0.382 Fibonacci (FIB) level ($3,413) in the near to mid term (e.g. 3-5 days).
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ETH USD 12H chart illustrating the upward and downward price moves from late February to the present.
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