Trendline support shows two previous retracements back to ascending trendline. MACD and RSI showing weakness at this level. 4H chart Multiple Tops with ETH over the past 2 weeks.
These are the exact same lines I traced yesterday but keep hearing the 400 support is strong. I agree with you but I'm still new, do you have any indicators to support this?
KryptonicG
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@rlocsin1286, Drop in the MACD and the RSI. MACD will provide the moving average Convergence and Divergence and it is trending lower. RSI or Relative Strength is also staying flat to down. $400 could be a good entry but, I am not pushing in stacks quite yet.
rlocsin1286
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**any other indicators that support a sub 400 move
KryptonicG
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@rlocsin1286, Drop in a linear regression and see how that lines up on the 1D chart. It should follow the same pattern.
rlocsin1286
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@KryptonicG, Do you think it will test 500 before hit retraces?
mashtrader
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don't you think $400-$420 held good and the price is building higher to visit ATH? maybe if we fail your prediction valid.
KryptonicG
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@mashtrader, It has and I can't say that I wont dollar cost average my way in. I will hold out the big money for the week leading up to Christmas holiday.