CryptoMarket360

Look for a flat to lower ETH market this week

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Support and resistance can be found in this blue wedge type pattern as price falls. Trend line A and B make up this wedge .

The previous historical 61.8% Fibonacci level held as resistance, as expected. The ADX is still showing the bears in control of trend momentum, which should keep the market in selling mode to drop price back to previous lows within the wedge .

The RSI is showing buying interest drying up as price tried to rally. This is a signal for a stall. This week’s chart looks similar to last week and the sentiment remains bearish this week.

Look for a flat to lower ETH market this week.

Critical Resistance: $255.00
Key Resistance: $236.49

Key Support: $175.00
Critical Support: $137.83

Any questions let me know.

We believe that the 1W Channel Down (or Falling Wedge as you are putting it on your chart) Resistance will be enough to keep the price on a bearish course:

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Do you think the current crazy volume on Bitfinex & Binance is wash trading? because it is holding the price 212-215-220 very strong with rebound everytime, what can this be? I am waiting for 180 levels but the more the volume is increasing, it is confusing me if it ever gonna come to this level or not :(
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CryptoMarket360 WealthHustler
@WealthHustler, looks like a lot of scalp trading.. indecision phase
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WealthHustler CryptoMarket360
@CryptoMarket360, gotcha.
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