ETHEREUM at the downtrend

KRAKEN:ETHUSD   Ethereum / U.S. Dollar
ETHUSD             is at the log downtrend. Check out the stochastic RSI , like most coins it's maxed out, but ETHUSD             is really flat at 100 and already formed quite a wide top - compare with the RSI at all time high. This is even more forced.

There's definitely upward pressure, but to go much more without a retrace is a big ask. We have the downtrend, the 50 MA and the 200 MA to deal with, not to mention the bearish Ichimoku cloud .

So the chart looks somewhat bearish to me, not least because of the death cross from Thursday, but there are no hard rules here. ETH can break out and move up despite the stoch RSI , but scroll through and check for yourself how wide the peaks are at the top. This is basically the widest it's ever been.

ETHBTC is right in the killzone. That means its caught between strong support (500 and 20 MAs) and strong resistance (50 and 200 MAs which are lining up for possible death cross coming week). This means that a decision has to be made soon: up or down. Judging by the RSI again, I say down.

Comment: ETHUSD regular RSI
expecting more downtrend in eth even btc recovers..
+1 Reply
almost an adam eve double top with spike on April 3
BarclayJames Bobby_Petrino
@Bobby_Petrino, hope so ;)
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