ETH bounced on ~$200 support zone but not very hard.
Right now on 3H chart its sitting inside ichi cloud, below 13SMA, and figuring out if its going to break below or stay above local trendline (green dashed line).
Very finnicky area for it to be in right now with no clear signal which direction its going.
Would pay close attention to these.
$200 support
local bullish trendline (green dashed line)
monthly/weekly bullish trendline (white dashed line below it - from bottom of march drop which has not yet been broken)
ichi cloud on 2h, 3h, and 4h
combination of these will signal where it is going.
RSI and stoch seem to be fine with either direction.
BEAR: see if you can get a short above 212.
target 18x - 17x
BULL: see if you can get a long after another $200 bounce (202, 203?)
target 220 - 225 - 240
slightly leaning bear because of btc (btc much more clearly bear)
however we have seen previously that ETH bullishness actually pulls BTC up with it via ETHBTC which is now #3 in market cap volume trading, and USDT is pumping ETH....
only trade ETH if you are watching BTC as well.
Right now on 3H chart its sitting inside ichi cloud, below 13SMA, and figuring out if its going to break below or stay above local trendline (green dashed line).
Very finnicky area for it to be in right now with no clear signal which direction its going.
Would pay close attention to these.
$200 support
local bullish trendline (green dashed line)
monthly/weekly bullish trendline (white dashed line below it - from bottom of march drop which has not yet been broken)
ichi cloud on 2h, 3h, and 4h
combination of these will signal where it is going.
RSI and stoch seem to be fine with either direction.
BEAR: see if you can get a short above 212.
target 18x - 17x
BULL: see if you can get a long after another $200 bounce (202, 203?)
target 220 - 225 - 240
slightly leaning bear because of btc (btc much more clearly bear)
however we have seen previously that ETH bullishness actually pulls BTC up with it via ETHBTC which is now #3 in market cap volume trading, and USDT is pumping ETH....
only trade ETH if you are watching BTC as well.