quantguy

Ethereum Runs Into Resistance

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Ethereum found support at $1547, and pivoted up to higher levels. There is a dense cluster of levels starting at $1653, and extending to the mid $1700's. We are currently contending with the first of these levels, unable to break higher. We are seeing many red triangles on the KRI , confirming the resistance. The Kovach OBV has leveled off, suggesting that we need more momentum before we can break higher. If we reject current levels, then $1547 should continue to provide support, otherwise the next level is $1424.

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