Yeah so ETHBTC is looking like it wants to go up. You can see this with buy volume starting to outpace the sell volume. However there's a lot of resistance overhead. There is the 50d MA at 0.021, the downtrend from Jan 2018 at 0.022, the 200d MA at 0.024, historic horizontal level at 0.025, and a more recent downtrend from Jan 2019 at 0.026.
Maybe after ALL of that resistance is taken down, ETH can really rally.
Also support is 0.019 and 0.016, plus the 100d MA. If any of those are broken this is invalid.
I drew a possible path for the price but ehh I haven't really been doing too well with that so take it with a grain of salt
Maybe after ALL of that resistance is taken down, ETH can really rally.
Also support is 0.019 and 0.016, plus the 100d MA. If any of those are broken this is invalid.
I drew a possible path for the price but ehh I haven't really been doing too well with that so take it with a grain of salt
Comment:
ETH is nudging right up against the downtrend, so it looks like this resistance may be a lot harder to take down than I thought. It looks like we're seeing a rejection right now but a bounce is very possible.