ETH sat just outside its trendline here, it doesn't look great but also fairly indecisive, and when ETH reverses it just melts. MFI is really very oversold on daily and the bullish trend since September 2019 is still intact.
Looking for a wick towards the support marked in green, which is the consolidation which preceded the move to 0.04; if ETH reclaims the range low at 0.0268 then I think we could see a quick move to the highs and possibly beyond. Failure to reclaim the range low and price subsequently moving lower through the support zone would lead me to reconsider the position.
Looking for a wick towards the support marked in green, which is the consolidation which preceded the move to 0.04; if ETH reclaims the range low at 0.0268 then I think we could see a quick move to the highs and possibly beyond. Failure to reclaim the range low and price subsequently moving lower through the support zone would lead me to reconsider the position.