ETH/USD - In a Neutral Zone
Daily
On the daily, we have lost the support of $420 USD and have since been rejected from it once already. With BTC bobbing around $7000 USD, we may see another leg down to test $360 USD. This is still possible given the positioning of RSI, Stoch, and the overall long-term bearish strength.We also made a lower low here the past couple days which shows even more bearish leanings.
For bullish action, we need to retake $420 and fight towards the Tenkan as the first target around $450 - $460 USD. Higher highs must be made.
4 Hour
As stated, ETH was rejected off the $420 USD price line and could not hold the Tenkan, proceeding to remain under it for several hours. It was only recently broken with an already high Stoch, but rising RSI. Another attempt to break $420 USD is imminent.
The divergence of the cloud and the TK lines further demonstrate how bearish this market has become.
Posted from my blog with SteemPress : http://coinsholar.vornix.blog/2018/08/05/eth-usd-in-a-neutral-zone/
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