Ethereum Price Analysis: Short Looks Good Here as Well
It has been a while since we’ve checked the price of Ethereum, and it appears that Ethereum has been racing to the stars ever since (from the previous localized bottom that it hit).
So, let’s go ahead and check out the charts to see what the approximate gains have been:
Perhaps what is even more remarkable is how the price has persisted in spite of a dramatically overbought RSI(14) [in a bear market]
Ethereum RSI(14) Analysis
Everything else is signaling that Ethereum is overextended on the H4 resolution.
Indicators of Over-Extension on the H4 Resolution
Zerononcense Price Bands
You may not be able to see it too clearly in the picture above, but Ethereum is clearly over-extended on the H4 resolution for the Zerononcense Price Bands.
Zerononcense Reversion Ribbon V2
The Zerononcense Reversion Ribbon V2 is showing strong symptoms of over-extension as well because of the dark green candles that we’re seeing. We’re also seeing major inconsistency on the Histogram as well, which is a sign of waning strength.
Again, this is another huge warning sign for bulls that are not yet currently in Ethereum.
Exponential Moving Averages
EMA-200 is still over the EMA-50 currently on the H4 resolution, which means that the bearish death cross is still in effect.
However, the EMA-12, EMA-26, and EMA-50 are all stacked on top of one another, which is a positive and bullish signal.
However, it is worth remember that exponential moving averages (EMA) are lagging indicators, so they’re not predictive but rather indicative of past performance.
Above, the exponential moving averages that are under the current price point serve as potential supports for the price of Ethereum
Let’s check it out on the daily as well.
Ethereum on the Daily Resolution
Relative Strength Index(14) on the Daily
As we can see in the chart above, the RSI(14) soared from the oversold point directly to overbought in just a matter of a little over a week, which is a great sign of over-extension.
So, let’s go ahead and check out the charts to see what the approximate gains have been:
Perhaps what is even more remarkable is how the price has persisted in spite of a dramatically overbought RSI(14) [in a bear market]
Ethereum RSI(14) Analysis
Everything else is signaling that Ethereum is overextended on the H4 resolution.
Indicators of Over-Extension on the H4 Resolution
Zerononcense Price Bands
You may not be able to see it too clearly in the picture above, but Ethereum is clearly over-extended on the H4 resolution for the Zerononcense Price Bands.
Zerononcense Reversion Ribbon V2
The Zerononcense Reversion Ribbon V2 is showing strong symptoms of over-extension as well because of the dark green candles that we’re seeing. We’re also seeing major inconsistency on the Histogram as well, which is a sign of waning strength.
Again, this is another huge warning sign for bulls that are not yet currently in Ethereum.
Exponential Moving Averages
EMA-200 is still over the EMA-50 currently on the H4 resolution, which means that the bearish death cross is still in effect.
However, the EMA-12, EMA-26, and EMA-50 are all stacked on top of one another, which is a positive and bullish signal.
However, it is worth remember that exponential moving averages (EMA) are lagging indicators, so they’re not predictive but rather indicative of past performance.
Above, the exponential moving averages that are under the current price point serve as potential supports for the price of Ethereum
Let’s check it out on the daily as well.
Ethereum on the Daily Resolution
Relative Strength Index(14) on the Daily
As we can see in the chart above, the RSI(14) soared from the oversold point directly to overbought in just a matter of a little over a week, which is a great sign of over-extension.
手動結束交易
Hey! Forgot to close this idea. But this was another winner.
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