EthereumViés de alta
Do not buy ETH yet IF you are trading, but it will shine soon!
Ethereum has been underperforming other major cryptos. However, I can see some bullish momentum building up.
I think Ethereum will eventually go up. If you are investing, you can buy it. But if you are trading with leverage, I don't think it is the time for it yet. The below is my reasoning:
Weekly chart
1) Weekly MACD lines are above 0. Bias is bullish.
2) Weekly RSI has entered the bull zone (above 50 and slow/smooth MA (orange line) is sloping upwards, which indicates the general direction of the price is up.
3) Weekly Stochastic lines are still pointing downwards, so the sell pressure hasn't eschasted yet.
Daily chart
4) Daily stochastics have reset and moving up to the bull zone.
5) Daily MACD lines are trying to cross but haven't crossed. They are still in the bear zone.
6) The price has been moving inside the descending wedge pattern. The descending wedge is usually bullish. However, quite a heavy sell block sitting above the top descending line.
7) The price has retraced to Fib 0.618 area and strongly bounced up. It is a sign of healthy correction. If the price can manage to move and close above Fib 0.236, it has a good chance Eth can finally start to move up.
There are a lot of structural barriers Eth needs to break through before it can run up. However, I can see good signs of recovery.
I will update my analysis.
I think Ethereum will eventually go up. If you are investing, you can buy it. But if you are trading with leverage, I don't think it is the time for it yet. The below is my reasoning:
Weekly chart
1) Weekly MACD lines are above 0. Bias is bullish.
2) Weekly RSI has entered the bull zone (above 50 and slow/smooth MA (orange line) is sloping upwards, which indicates the general direction of the price is up.
3) Weekly Stochastic lines are still pointing downwards, so the sell pressure hasn't eschasted yet.
Daily chart
4) Daily stochastics have reset and moving up to the bull zone.
5) Daily MACD lines are trying to cross but haven't crossed. They are still in the bear zone.
6) The price has been moving inside the descending wedge pattern. The descending wedge is usually bullish. However, quite a heavy sell block sitting above the top descending line.
7) The price has retraced to Fib 0.618 area and strongly bounced up. It is a sign of healthy correction. If the price can manage to move and close above Fib 0.236, it has a good chance Eth can finally start to move up.
There are a lot of structural barriers Eth needs to break through before it can run up. However, I can see good signs of recovery.
I will update my analysis.
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