The daily chart continues to look good as well as the smaller time-frame charts that we published. RSI and MACD continue to line up with the previous fractal, and the daily candle is progressing upward movement after yesterday's pause in action. The projected price movement through the daily cloud is around June 21st. If price is to follow this path and exit through the top of the cloud at that time, it will mark the first time that price has been above the daily cloud since January. This would be significant and should continue adding to the FOMO as people start becoming concerned they are missing the boat by waiting for price to reach $6000 and below.
Retail traders are feeling more and more bearish which is a good indication that the end of May's downward trend should be near. An ETH short squeeze near the time that price pushes through this small potential triangle that it is currently printing may just be the catalyst the market needs to inject optimism into it.
Retail traders are feeling more and more bearish which is a good indication that the end of May's downward trend should be near. An ETH short squeeze near the time that price pushes through this small potential triangle that it is currently printing may just be the catalyst the market needs to inject optimism into it.
