ETH/USD - No trend identified, please wait!

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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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!
I upvoted with you. great technical setups today, well done!