Hello friends, today you can review the technical analysis idea on a 1D and 2D linear scale chart for Ethereum (ETH).
I am showing the comparison of the 1D and 2D chart for Ethereum focusing in on the RSI (relative strength index). It has been over a year since the RSI on a 1D chart has been in the oversold region. The RSI on the 2D chart is about to reach oversold. I mapped out other historical RSI points in both charts when it was oversold. I also noted information on how long the Ethereum RSI was in the oversold region. I have drawn in both charts a multi-year support trend line as well as a dash trend line showing the prior cycle all time high as support. Also included in these charts are the Ichimoku Cloud. The 1D chart shows a bit of a red cloud coming up. No major change in Volume. Also shown is the 200 day moving average (200MA).
If the price continues to fall but gets supported by the multi-year support trend line, there may be a good chance the Ethereum price could get back to into the top of the Ichimoku Cloud and back to the 200MA range.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
I am showing the comparison of the 1D and 2D chart for Ethereum focusing in on the RSI (relative strength index). It has been over a year since the RSI on a 1D chart has been in the oversold region. The RSI on the 2D chart is about to reach oversold. I mapped out other historical RSI points in both charts when it was oversold. I also noted information on how long the Ethereum RSI was in the oversold region. I have drawn in both charts a multi-year support trend line as well as a dash trend line showing the prior cycle all time high as support. Also included in these charts are the Ichimoku Cloud. The 1D chart shows a bit of a red cloud coming up. No major change in Volume. Also shown is the 200 day moving average (200MA).
If the price continues to fall but gets supported by the multi-year support trend line, there may be a good chance the Ethereum price could get back to into the top of the Ichimoku Cloud and back to the 200MA range.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
