Most people have been very bullish on ETH lately, but i feel that the charts say otherwise.
If we do break out from the current short term resistance line, there is a major resistance level sitting at 0.0250
The oscillators are telling me a different story
BEARISH... why?
- Signs of RSI divergence to the bearish side
- MACD crossover
- Stochastic still trending down (may seem to be going up, but overall direction still down)
- Squeeze Momentum indicates projected downward momentum
The bullish case will probably be for ETH to break above 0.0250, pullback to retest the level before make further advance. This scenario is quite unlikely in my opinion.
don't be a perma-bull :)
If we do break out from the current short term resistance line, there is a major resistance level sitting at 0.0250
The oscillators are telling me a different story
BEARISH... why?
- Signs of RSI divergence to the bearish side
- MACD crossover
- Stochastic still trending down (may seem to be going up, but overall direction still down)
- Squeeze Momentum indicates projected downward momentum
The bullish case will probably be for ETH to break above 0.0250, pullback to retest the level before make further advance. This scenario is quite unlikely in my opinion.
don't be a perma-bull :)