ETH has had a great run since the $90 low in March 2020. But as we approach $200 it seems to be losing steam a bit and may be due for a correction. I don't like calling tops or fighting trends but there is some compelling evidence to indicate that $195 is a good short opportunity.
The RSI on 12HR has clearly triple topped and price has been consistently dragging against the parabola uptrend for the last couple days with weak bounces off it. It would not be hard to imagine crashing through the parabola for a short-term ~10% TP target at $175.
$195 is also right at the resistance level where we previously crashed through on March 11th 2020.
The RSI on 12HR has clearly triple topped and price has been consistently dragging against the parabola uptrend for the last couple days with weak bounces off it. It would not be hard to imagine crashing through the parabola for a short-term ~10% TP target at $175.
$195 is also right at the resistance level where we previously crashed through on March 11th 2020.