Ethereum · Crash or Higher?I see Ethereum and I look at Ethereum and all I see is rising prices. I can see the potential for a retrace and the bearish signals short-term but still, all I see is rising prices and a rising trend, it will continue.
Here we have a very strong rising trend and it seems Ether is peaking. There was a high 10 days ago and now we are seeing a double-top. Yesterday was a new all-time high and the candle ended with a small real body and large upper wick. This can be read as bearish but also as resistance being challenged.
Trading volume is standard for a continuation. All general signals are bullish. The trend is bullish. The market tendencies are bullish. The sentiment is bullish, etc.
Between May and July we had a period of sideways action, two months. Something similar can happen but instead of two months, two weeks or four weeks. I believe this one will be shorter than the last.
Prices can drop just to recover the next day. Prices can continue rising without a drop. It is hard to predict the very short-term.
Ethereum is bullish on all timeframes and no signals point to a top being present.
The day with high bearish volume 14-August was matched by a day of high bullish volume 22-August. So the market remains positive on the upside. The market bias continues bullish.
Ethereum is bullish long-term, and we expect to continue rising as long as the action is happening above $4,100. If it moves below, we will rethink.
Thank you for reading.
Namaste.
