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quantguy
Nov 2, 2022 10:05 AM

Ethereum Finds Support Short

Ethereum / U.S. dollarBitstamp

Description

Ethereum has steadily edged downwards after reaching a significant high and profit target of $1653. We retraced gradually from there, but are still finding support at $1547, as anticipated here, with green triangles on the KRI indicating support. The Kovach OBV is steadily trending downward, so unless ETH can get a strong bid, we are at risk of retracing the move, if support fails at $1547. If so, then $1424 is the next level down. If we can break out again, we will run into resistance in the $1700's.
Comments
Astronomicus
LL's on the 1hr TF, support is holding at the current time of writing as you rightly mentioned. I'm still hopefully bearish :), best rgds..
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