Right now the price is moving down a bearish channel yet has been respecting the bottom trend line as well.
The kumo is sitting between the 0.382 and 0.5 fib levels acting as resistance.
Kijun and Tenkan are also acting as resistance and their horiztonal movement tells us the market is accumulating.
The stochastic had a bull cross that looks to be a failed signal as it met past resistance and was not able to break it.
However, the signal line is still in an upwards trajectory and the current dojis from todays candle as well as yesterdays indicate indecision on the traders part.
TRIX is fluctuating up but hasn't had indicated a buy signal yet.
My weekly high and low projection for Ethereum is:
Low: 453
High: 549
The kumo is sitting between the 0.382 and 0.5 fib levels acting as resistance.
Kijun and Tenkan are also acting as resistance and their horiztonal movement tells us the market is accumulating.
The stochastic had a bull cross that looks to be a failed signal as it met past resistance and was not able to break it.
However, the signal line is still in an upwards trajectory and the current dojis from todays candle as well as yesterdays indicate indecision on the traders part.
TRIX is fluctuating up but hasn't had indicated a buy signal yet.
My weekly high and low projection for Ethereum is:
Low: 453
High: 549
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