ETHUSD - Ethereum is going down!
My TA on 1D shows that:
1. Price came out from the ascending wedge at its peak.
2. Vertical volume decreased while price went up.
3. RSI shows divergence against price.
4. MACD confirms RSI's divergence.
5. Based on horizontal volumes liquidity for MM is concentrated on given level on the chart.
Correction for the last impulse is logical. Correction can fly down Fib starting from 38.2% to 50% and 61.8%. That would be your TP.
It is common for ETH to lag behind BTC, but in the end it follows BTC's trend. There is more fundamental analysis on Bitcoin in my article linked below.
1. Price came out from the ascending wedge at its peak.
2. Vertical volume decreased while price went up.
3. RSI shows divergence against price.
4. MACD confirms RSI's divergence.
5. Based on horizontal volumes liquidity for MM is concentrated on given level on the chart.
Correction for the last impulse is logical. Correction can fly down Fib starting from 38.2% to 50% and 61.8%. That would be your TP.
It is common for ETH to lag behind BTC, but in the end it follows BTC's trend. There is more fundamental analysis on Bitcoin in my article linked below.
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