EthereumShort
Ethereum's Weekly Divergence
Open Interest - Long: 1.90 Days
Open Interest - Short: 0.42 Days
RSI: Hidden Bearish (1W)
OBV: Flat
VOL: Flat
Price Action: ETH has been constricted by the 28D moving average for most of this week; however there is still about 10 more day of price action before the $170 peak diminishes from the calculation. The weekly chart is where the focus should be though; with the RSI rising to a third peak despite lower highs on the price action. With the 26W MA now at a lower point to the previous price peak; this presents a nice short opportunity overall. Add to this that margin long positions 4x the short positions and without fresh capital the bulls appear over exposed.
Key Resistance: 140 (28D MA), 145, 152, 155 (26w MA)
Key Support: 131 (13w MA), 130, 120
Open Interest - Short: 0.42 Days
RSI: Hidden Bearish (1W)
OBV: Flat
VOL: Flat
Price Action: ETH has been constricted by the 28D moving average for most of this week; however there is still about 10 more day of price action before the $170 peak diminishes from the calculation. The weekly chart is where the focus should be though; with the RSI rising to a third peak despite lower highs on the price action. With the 26W MA now at a lower point to the previous price peak; this presents a nice short opportunity overall. Add to this that margin long positions 4x the short positions and without fresh capital the bulls appear over exposed.
Key Resistance: 140 (28D MA), 145, 152, 155 (26w MA)
Key Support: 131 (13w MA), 130, 120
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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.