以太坊看空
Ethereum - The unsustainable rally
We have not changed our stance on Ethereum. We stay bearish with the price target of 1 000 USD. At the moment, Ethereum follows a similar pattern of exhaustion observable in BTCUSD. In addition to that, the same fundamental, technical and regulatory factors pose threat to this cryptocurrency; all this combined, forces us to stick to our previous assessments on ETHUSD.
Illustration 1.01
The picture above shows our assessment of particular price levels for ETHUSD.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bearish. DM+ and DM- are bullish. Overall, the daily time frame is bearish.
Illustration 1.02
The chart above shows the relationship between price and volume. It can be seen that after bullish breakouts, volume declined, hinting at the temporary evaporation of buyers. Now, we want to see a build-up in volume accompanying a declining price to confirm our bearish thesis.
Technical analysis - weekly time frame
RSI is neutral. MACD performed bullish crossover. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame sends mixed signals. Despite that, in our opinion, the bullish conditions are peaking now.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Illustration 1.01
The picture above shows our assessment of particular price levels for ETHUSD.
Technical analysis - daily time frame
RSI, MACD, and Stochastic are all bearish. DM+ and DM- are bullish. Overall, the daily time frame is bearish.
Illustration 1.02
The chart above shows the relationship between price and volume. It can be seen that after bullish breakouts, volume declined, hinting at the temporary evaporation of buyers. Now, we want to see a build-up in volume accompanying a declining price to confirm our bearish thesis.
Technical analysis - weekly time frame
RSI is neutral. MACD performed bullish crossover. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame sends mixed signals. Despite that, in our opinion, the bullish conditions are peaking now.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
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