Hello to everybody!
Today we will check ETH.
The main power of ETH is NFT market. NFT market is in ''bearmarket'' last days, so it could be also bad news for ETH.
Technical analysis shows us strong support level between 2300-2100USD.
For next move up is important to stay above this level and break bearish trendline.
RSI indicatos on daily chart is still below 50. The value below 50 is better for bears then bulls, so I will be monitoring break from this area.
In case of move down is next support level around 1300-1100USD.
In market is low volume in last days, so nobody know witch way will be chosen.
If you would like to take long position, wait for break trendline, RSI above 50 and bigger buy volume.
Today we will check ETH.
The main power of ETH is NFT market. NFT market is in ''bearmarket'' last days, so it could be also bad news for ETH.
Technical analysis shows us strong support level between 2300-2100USD.
For next move up is important to stay above this level and break bearish trendline.
RSI indicatos on daily chart is still below 50. The value below 50 is better for bears then bulls, so I will be monitoring break from this area.
In case of move down is next support level around 1300-1100USD.
In market is low volume in last days, so nobody know witch way will be chosen.
If you would like to take long position, wait for break trendline, RSI above 50 and bigger buy volume.