ETH/BTC getting close to breaking this downtrend channel and 21 moving average.
MACD and DMI is positive, therefore, we are likely to break to the upside.
Ethereum is now testing our 1st resistance at 784 (multiple Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to drive prices down to at least 564 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.
Trading CFDs...
