Hello all, I am new at trying my hand in technical analysis so any constructive criticism is welcome. This is my first publication:
ETHUSD looks like it may be approaching a pull-back as it reaches key resistance around $335 USD. RSI 10 is at a high point of approx 90 and may be approaching over-bought status. MACD is strong but may be approaching a peak before dipping down and crossing below the signal line. Looking at the hourly chart we see more volatility in the candlesticks as ETHUSD approaches the conjunction of resistance and the trend line .
I am going to watch for price action here but the trend does still seem to be in effect as ETH continues to make higher highs and lows on the 4H chart as well as bulls consistently controlling the volume .
ETHUSD looks like it may be approaching a pull-back as it reaches key resistance around $335 USD. RSI 10 is at a high point of approx 90 and may be approaching over-bought status. MACD is strong but may be approaching a peak before dipping down and crossing below the signal line. Looking at the hourly chart we see more volatility in the candlesticks as ETHUSD approaches the conjunction of resistance and the trend line .
I am going to watch for price action here but the trend does still seem to be in effect as ETH continues to make higher highs and lows on the 4H chart as well as bulls consistently controlling the volume .