JacobR905

Ethereum New ATH!??

Long
BITSTAMP:ETHUSD   Ethereum
Ethereum has been holding up very well during this pullback with us still able to hang onto some key levels, including this ascending channel, we are currently sitting on the bottom of the channel holding on strong and i think the market is starting to rebound, if you take a look at my last TA talking about the BTC hidden bullish divergence the same thing actually applies to Ethereum currently, ill let yall check that out for yourselves, refer back to my BTC TA and throw on the Stoch RSI on Ethereum and see if you can find it. Other than the divergence the market i think is ready for another leg up since we just saw a significant healthy pullback. Some key levels we are looking at here are the 0.2 FIB which we need to break soon, the R1 resistance slightly above the 0.2 FIB and the midline coming from the bollinger bands which is currently acting as resistance, if we can get above atleast the 0.2 and the BB midline we are going to be looking super bullish and the good thing is they aren't far away at all so our indicators like the MACD and RSI will barely be affected by a move like this. On the RSI we slightly took a dip below the midline but barely really an we are now seeing some upwards direction here with us just right underneath this midline, i think we aren't going to have any problems getting above here with ease and we can continue our confirmed uptrend! Also gotta keep an eye on ETH's Domiance in the market, we have had significant upside in the dominance and that definitely correlates with the big upswings in price action, we are likely going to see another big pump in price action and dominance level we are seeing respect on this uptrend support line and i think even if we fall a little bit more we are likely going to get a nice bounce which afterwards i would expect us to have a solid move to the upside! And remember ETH's dominance is a big deal with the Altcoins the higher ETHs dominance goes the more altcoins will follow ethereum rather than BTC! Not financial advice just my opinion!

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