Taking a look at ETH where above you can see the Daily and 4 Hour Timeframes. First of all taking a look at the daily timeframe on the left we can see that price recently showed a spike up to the area go 147.30, price at this area was rejected and pushed back below the key area of 140.00. Price has since showed a slow retracement back to the ascending trend line.
On the 4 Hour timeframe we are able to see clearer that price is forming 4 Hour lower highs and lower lows. The most recent lower low spiked the ascending trend line and price has pretty much ranged since. From here just like BTC we could either see a break out to the upside or downside.
A break to the upside and we would need to see price break the key barrier of 140.00 to see potential of price rallying up to the area of 147.30.
On the other hand if price broke the ascending trend line to the downside the we would look for price to reach the area of 130.00 where we would either look for a further break or rejection.
On the 4 Hour timeframe we are able to see clearer that price is forming 4 Hour lower highs and lower lows. The most recent lower low spiked the ascending trend line and price has pretty much ranged since. From here just like BTC we could either see a break out to the upside or downside.
A break to the upside and we would need to see price break the key barrier of 140.00 to see potential of price rallying up to the area of 147.30.
On the other hand if price broke the ascending trend line to the downside the we would look for price to reach the area of 130.00 where we would either look for a further break or rejection.