Thoughts on Ethereum for the next two weeks
ETH is looking to breakout of this triangle. Stoch shows oversold, which could indicate upwards movement. However, the RSI is weakening and the Ichimoku lagging span looks like it could cross down soon. I have outlined two scenarios I think could happen.
1. ETH drops a little more to previous support and then the RSI begins to strengthen and confirms reversal. We might then hit the resistance 1 again and fall back to the increasing support. This support could provide a really good launchpad for ETH.
2. We fall to support 2 and ETH becomes stuck in indecision for a while.
With BTC looking to do another run anything could happen, but here are some options. Good luck!
1. ETH drops a little more to previous support and then the RSI begins to strengthen and confirms reversal. We might then hit the resistance 1 again and fall back to the increasing support. This support could provide a really good launchpad for ETH.
2. We fall to support 2 and ETH becomes stuck in indecision for a while.
With BTC looking to do another run anything could happen, but here are some options. Good luck!
Note
Due to the rise of BTC things are looking bleak. ETH approaching the 38% fib level. Hope to see a reversal there.Note
Very close to the 38% level now. Hoping for a bounce.Note
Potential inverted H&S foreshadowing some upwards movementNote
Hopes and dreams
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.