Ethereum is starting to make a pullback to our breakout level. This is usually a sign of bigger players pushing price back up to get in at a good entry. Our 1st major resistance is at 910.21 (Fibonacci retracement, horizontal overlap resistance) and another reaction off this level could push price all the way down to 781 support (Fibonacci retracement, horizontal swing low support).
RSI (55) has broken below our 46% support-turned-resistance line signaling that we’re starting to see a bearish move.
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What is your thought about the correlation to the bitcoin price? Could the rising bitcoin price trump this move?
rnm410
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@jayhennings, Here is you correlation matrix. sifrdata.com/cryptocurrency-correlation-matrix/ I've been using eth as a lead on btc with a short span of divergence in ltc, ltc has gone back to shadowing btc. Most alts are more correlated to eth. My analysis on eth is a bit different than the above.