Using the 4hr bar, it looks as if ETH is approaching a cross road of both its ascending and descending trend lines. Momentum is building but weakly as ETH is trending neutrally in the cloud, adding that volume has increased, so it is clear that a movement is cooking. ETH has also failed the past 2 attempts at breaching the $890 retracement level, showing the monster resistance at these levels.
On the daily bar, ETH is in a similar situation below the cloud, albeit in a good spot to rip and rally with the momentum ETH is trying to build. Time seems to be running out, the 2 case scenario that seems to be favorable is that either ETH rips to test both the heavy $890 and psychological 900$ level or drift back down to test the $800 and $780 levels.
Given how volatile other markets have been this week, this could spill into the crytposphere this weekend, just some things to think about.
On the daily bar, ETH is in a similar situation below the cloud, albeit in a good spot to rip and rally with the momentum ETH is trying to build. Time seems to be running out, the 2 case scenario that seems to be favorable is that either ETH rips to test both the heavy $890 and psychological 900$ level or drift back down to test the $800 and $780 levels.
Given how volatile other markets have been this week, this could spill into the crytposphere this weekend, just some things to think about.