Hey, I am back with another Technical Analysis, this time looking at my favorite utility token, Ethereum.
I believe that Ethereum may take over Bitcoins Dominance one day.
I guess I dont have to Introduce Ethereum as everyone should be familiar with it.
Lets just take a look at Chart.
Demnand and Ressistance zone.
A pennant has occured, pennants are 50/50 bullish or bearish patterns that indicate some major price movement.
Bullish channel broken.
Looking at Indicators.
On RSI chart you can see its known support and ressitance level, it would be ideal for the price to go up to bounce off 52 level, if this fails it may fall few % down finding support at 41 level.
MACD curve not perfect but there is a chance that sellers are slowly getting weaker.
EMA staying Neutral.
We are higly above 50 day MA, if both rsi levels get broken, it should be considered as a strong support.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord Channel!
Hope I made your view on whats going on with Ethereum somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely Update.
I believe that Ethereum may take over Bitcoins Dominance one day.
I guess I dont have to Introduce Ethereum as everyone should be familiar with it.
Lets just take a look at Chart.
Demnand and Ressistance zone.
A pennant has occured, pennants are 50/50 bullish or bearish patterns that indicate some major price movement.
Bullish channel broken.
Looking at Indicators.
On RSI chart you can see its known support and ressitance level, it would be ideal for the price to go up to bounce off 52 level, if this fails it may fall few % down finding support at 41 level.
MACD curve not perfect but there is a chance that sellers are slowly getting weaker.
EMA staying Neutral.
We are higly above 50 day MA, if both rsi levels get broken, it should be considered as a strong support.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord Channel!
Hope I made your view on whats going on with Ethereum somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely Update.
