Ethereum Short-Term · Trading within Bullish Range

I am looking at Ethereum short-term using the same timeframe I used for Bitcoin, 2h. We have some interesting signals.

Here ETHUSDT is trading within higher lows. This is interesting because Bitcoin produced a lower low recently. The same volume signal is present here, ETHUSDT has been producing lower bearish volume since last month.

The RSI produced a lower low while ETHUSDT produced a higher low. This is called a hidden bullish divergence. Ethereum's bears did not only fail to take out the last low 24-July but also the previous one, and this clearly reveals bullish support.

The RSI being oversold is also a positive condition and can signal a reversal happening soon. Not truly a reversal because we are not in a downtrend, we are still witnessing a small pause after a strong rise; consolidation near resistance. A continuation reads better.

Ethereum's price continues really strong and the short-term signals are pointing to bullish action being favored in the coming days. We can wait easily and patiently because the best is yet to come. Never SHORT in a bull market, the market will surprise you with how fast things can turn. Better wait for support and go LONG.

Namaste.