A large volume went into ETH and XRP even on the weekend and today we saw a good movement. I see several resistance zones which are shown in yellow box
We started from a strong support level and we will see how the future situation will be
The decision to trade this or that coin is yours. I expressed my subjective opinion
First of all, I am sorry I am so rare at the moment, but I have private stuff going on that I need to take care of and it recently needed all my attention.
Anyhow, Ethereum is a beautiful example of how technical analytics work and work out if done properly. I have not touched or changed this chart for several weeks now, no new lines, no new assumptions nothing...
We can see a nice bulltrend on ETHEREUM vs USD pair. The global support trendline it's still holding and also we have the really strong support from 200MA weekly. RSI bounced from 40(which means,ETH it's bullish). The sell volume going down and probably soon(few weeks) the buyers will appear(green candles).
Don't forget,ETH 2.0 coming in January 2020 and in May...
Notice how the chart goes below the long support line and then shoots up a few weeks later, basically non stop for a while. This appears to be happening again these days, and I would expect the price to go over the support line in the next few days. Of course 9k is exaggerated but who knows, that would still be "only" a 1T$ market cap. The coming recession could...
relatively no resistance right now until 225 range.. by the rsi will be VERY overbought on some hourly timeframes... price will problably do some consolidating for a couple of days to a week and then burst through 225 like butter.... it wont take long for eth to be pushing 363 again.... id say give it less then a month and well be over 300
ETH is possibly forming a growing wedge, if the idea is correct, then the price moves to the next resistance level of $ 232, from there there will be a breakdown of the wedge and correction of growth.
Your thoughts guys?
COINBASE:ETHUSD hit old support, now acting as resistance. If ETH cn get by this line, 254ish gets opened up. Mid-term target lies at 622 area, longer term 2368ish. Not much time to post lately, got tons going on at home, so my apologies. I'll get back on track. Trade safely in the meantime!! Happy hunting and GLTA!!