Ethereum Technical Analysis: Consolidating Before Next Move
Ethereum is tightly consolidating between the bottom of the $380-$365 resistance and top of the $355-$335 support. The market continues to look weak with lackluster volume and FUD permeating the news.
The daily RSI and Stoch RSI are both oversold. This suggests a temporary rise is likely, but I don’t expect a break above the $355 resistance unless we see an influx of volume.
In today’s video analysis, I discuss short term price movement, overall market sentiment, my Elliot wave count and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
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BIAS:
Short Term: Slightly Bearish
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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by Workin2005
crazy drop, feels like that time we droped to 180 from 500!
Bears are in full control
Good analysis, hope Ethereum bounce back
ETH broke that last higher low and seems much weaker than BTC. if BTC heads to 5k or lower this would seem to be very bad for ETH. thoughts on ETH log scale upward channel? seems like its close to breaking if not already done so.