this is an update to my older ETH-analysis; it´s not totally new but adjusted
In the past days ETH followed - with some up and down movements - the third impulsive wave (EW)
Where will it end? I suggested it could be around the fib retracement 161.8% - and there we are.
Of course I can be wrong and ETH will continue its rise.
If ETH breaks the resistance and stays above this line (at least one 4h-candle!), then one can expect the end of wave 3 higher.
As we arrive in uncharted land one possible aim could be the next fib retracement at 261.8% (1.800$).
ETH is within the green trend channel - on the upside now.
This is another reason why it could turn at this point.
a) Fib Retracement
b) Trend channel limit
Indicators:
RSI: strong - overbought
MACD: strong
ADX: low - but turning
+DI: positive (turning?!)
-DI: very low
Conclusion: at the moment a positive chart
In the past days ETH followed - with some up and down movements - the third impulsive wave (EW)
Where will it end? I suggested it could be around the fib retracement 161.8% - and there we are.
Of course I can be wrong and ETH will continue its rise.
If ETH breaks the resistance and stays above this line (at least one 4h-candle!), then one can expect the end of wave 3 higher.
As we arrive in uncharted land one possible aim could be the next fib retracement at 261.8% (1.800$).
ETH is within the green trend channel - on the upside now.
This is another reason why it could turn at this point.
a) Fib Retracement
b) Trend channel limit
Indicators:
RSI: strong - overbought
MACD: strong
ADX: low - but turning
+DI: positive (turning?!)
-DI: very low
Conclusion: at the moment a positive chart