Chart update: Everything is reversing off their lows and we are right at this resistance level and trendline for ETH. There isn't much in the way of resistance until 500. A little at 450, but not much to prevent it moving if it really gets going.
Look for a break to the upside here if we crack this $405 area. It's KINDA forming an inverse head and shoulders here similar to BTC. I outlined what I think could happen, but it could drift for a while. Look for ETH/BTC to reverse it's downtrend for ETH to really start popping to the upside.
My original call-
Happy Trading. If this analysis helped or my last one, make sure you smash that like button to let me know. Appreciate it.
-Sherem
Look for a break to the upside here if we crack this $405 area. It's KINDA forming an inverse head and shoulders here similar to BTC. I outlined what I think could happen, but it could drift for a while. Look for ETH/BTC to reverse it's downtrend for ETH to really start popping to the upside.
My original call-
Happy Trading. If this analysis helped or my last one, make sure you smash that like button to let me know. Appreciate it.
-Sherem
Comment:
Most of the sells are at $410, not 405, look to break that for a move up. We're getting there.
Comment:
We're looking good. Up we go.
Comment:
Adjusted my lines, we should see support at this 395-405 level. Not surprised we are doing this before continuing up again
Comment:
Obviously, my lines in my update I posted were to soon. If we don't find support in this channel and break 360 it's possible we go down to the 300. Be aware of that. I do have buys down at 326 and another further laddered down. If you are using a stop, below 360 and possibly arguably below 350 is where it should be placed.