Ethereum has had a +60% move since breaking out of our previous wedge on the daily chart that had been intact since June 2019. ETH 2.0 news has been stirring, staking is looking more attractive (you will need a 32 ETH min.), and global currencies have been getting a lot of FUD of possible hyperinflation due to the large amounts printed worldwide to combat falling into another recession. Investors have turned to Gold and Silver as a way to fight any possible inflation and Grayscale has just released a national ad promoting cryptocurrencies which is a huge step for crypto. As always it's best not to speculate but look for trends, signals, and confirmation. That being said, checking back in with the TA on ETH.
At the moment, we see that ETH RSI is oversold on the charts but price level hasn't followed the RSI retrace just yet. If price is able to hold up above that $360 range we still have room to run. We're looking to see if the MACD finishes its crossover as well. If we drop below the $360 range, we would begin to look for levels of $290-$300 for the first line of support as investors take profits enjoying that huge run ETH just had. At the moment, we've been trading ETH, XTZ, and BTC steadily.
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Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise
At the moment, we see that ETH RSI is oversold on the charts but price level hasn't followed the RSI retrace just yet. If price is able to hold up above that $360 range we still have room to run. We're looking to see if the MACD finishes its crossover as well. If we drop below the $360 range, we would begin to look for levels of $290-$300 for the first line of support as investors take profits enjoying that huge run ETH just had. At the moment, we've been trading ETH, XTZ, and BTC steadily.
Give us a follow and shoot us a Like for more analysis updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise
Comment:
Right on time...setting in the stop losses not too far behind to secure some profits