DU09

ETH/USD - No trend identified, please wait!

Long
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
ETH is in search for a trend because so far, since early January, we do not seem to know where we are going. We keep bouncing in a 25% range which is slowly tightening as indicated by the large wedge .

The indicators on 4h show no trend, rather the range for price is getting smaller so I expect that in a few days ETH will break out of this wedge one way or another. Possible path on the chart.

The daily indicators looks somewhat bullish to me. For this reason I still expect us to break up of this range and set a new ATH . If not, then ETH will drop quite quickly to a new support level .

I do not see any good entries now on this chart, better to wait.

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Comments

If you look at ethbtc 4h.. seem like breaking up there could give us initial momentum to start this new ath run.. but who knows .. we wait and see .
+1 Reply
DU09 samky39
@samky39, Thanks for the reply, indeed!
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I upvoted with you. great technical setups today, well done!
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