As we noted in a previous idea, ETH was coming to retest the support established in November 2020. We have since slightly bounced off but we need more bounce to really solidify that movement.
This particular chart is most interesting because the RSI is showing some bullish development. What makes this more interesting than usual is if it stays on this particular path, you can see by my depiction a very rough idea of what follows.
So in my opinion, we most certainly have to break down from this, or we are winding up for a crazy ride.
Let me know your thoughts
This particular chart is most interesting because the RSI is showing some bullish development. What makes this more interesting than usual is if it stays on this particular path, you can see by my depiction a very rough idea of what follows.
So in my opinion, we most certainly have to break down from this, or we are winding up for a crazy ride.
Let me know your thoughts
Comment:
As you can see we have definitely broken the 8-month trend line and are currently sitting in no wheres land. If it doesn't find support here, the last chance it has to bounce is off of 2000. If it breaks that, who knows where it lands.