ETH Ethereum Possible Reversal for Cryptos OR Not??? (1H Chart)

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
I'm studying Cryptos quite a lot. They've taken a massive interest to me.

Following the little stock market crash a few days ago where we saw indexes like DAX , SPX and FTSE all drop by a good 3-5%. Which all now seem to be rising in value.
We've seen that most Cyrpto markets have been on a big bearish move.

Now the thing is, when Bitcoin drops in price. So do many other coins and tokens. Largely because BTC is exchanged to a lot of these coins. When the price drops, the investors interest is also lost.

Back to the chart we can see we've had what appears to be a strong bullish movement with a lot of buy orders being placed.
Many people might suggest this is a reversal. However, as of the past hour I've picked up on divergence in MACD and the exponential averages are levelling out.

If I was to make an educated analysis of the charts, I would say we are entering a consolidation or a channel. I believe the long term action is >>> BUY <<< but expect the price to remain very unpredictable, at best.
I base this prediction on the fact that overall ETH is based on better technology and transaction rates are superior to Bitcoin . They still remain correlated however.

Keep an eye on the moves!!!

Good luck people!
Your forecast was right! :)
+1 Reply
Joshua_nate ccerezo11
@ccerezo11, thank you bro, I hope to continue getting better!
+1 Reply
agree, dont think its over yet. I bought an eth at $610 during the recent dip which is nice tho :D
+1 Reply
Looking good bro! Nice analysis
+1 Reply
Joshua_nate ccerezo11
@ccerezo11, Thank you very much bro!
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