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quantguy
Nov 1, 2022 1:53 PM

Ethereum Pulls Back Short

Ethereum / U.S. dollarBitstamp

Description

Ethereum has pulled back from highs at $1653 or so. Multiple red triangles on the KRI suggest strong resistance here. We are seeing good support from $1547, which suggests that we are likely to range between these two values before another possible breakout. Such a breakout could take us to the $1700's where we will immediately see resistance from a cluster of levels, acting as a barrier to the $1800's. If we retrace further, $1424 should be considered a floor.
Comments
SwallowPremium
Nice work, mate! Totally agree with your way of thinking!
quantguy
@SwallowPremium, I appreciate the feedback!
Astronomicus
I'm hoping to retrace further, RSI divergence on the 4TF, still under the 200ma daily, money is one to go further down wish me luck my friend :)
quantguy
@Astronomicus, There isn't much substance to this rally, IMO. I think as soon as we hear another Fed speak, reality will crash the party.
JoeChampion
Cheers
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