The volume behind this rally is not impressive. Ever since the break of 6k the volume has been declining, which suggests that the last several months of price action is consolidation before another big move. I am expecting another re-test of the descending trendline around $3850 to set a lower high before continuation of the prevailing trend.
ETH bulls need to make a move here or support will likely break. The moving averages are in a very bearish posture now as they continue to apply bearish pressure at the support level.
XRP/USD is death crossed up to the 3 day time frame. Critical support is at $0.26. If support is breached we can expect a retrace down to $0.15. If that level doesn't hold the next clear support is at $0.035
The price action and volume indicate consolidation with no clear direction. If the symmetric triangle pattern holds and volume continues to drop off, a break of the triangle will most likely be in the direction of the prevailing trend (bear).
ETH is setting up a short opportunity. The price action and volume indicate a rising wedge is forming. Ideal entry is $165. Waiting for the pattern to continue to develop before I enter.
