Ethereum: Bearish Signal at 450USD Resistance
If we talk about the coin using TA only, the market gives us a trend reversal signal based on a bearish divergence. The price reached 450USD resistance. RSI and MACD confirmed the price reversal from the resistance. MACD is supporting the further downward movement as well.
DMI is bullish, but ADX line is moving down. It tells us that the buyers are not so strong.
The perfect zone for buying will be at 300USD. But probably we won't get such deep correction. Reversal signals from SMAs as well as from 360USD should be used for opening long positions in the direction of the main trend.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
DMI is bullish, but ADX line is moving down. It tells us that the buyers are not so strong.
The perfect zone for buying will be at 300USD. But probably we won't get such deep correction. Reversal signals from SMAs as well as from 360USD should be used for opening long positions in the direction of the main trend.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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