Expected $ETH to have an easy breakout but Bitcoin's price action has stalled its momentum
Taking a look to find out if ETH will break through to all time high @$1392 or retrace to support around $1290
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1) $ETH has been in a rising channel since the past 5 days, the momentum in BTC has slowed it down but the channel has remained intact throughout - a good sign.
2) The supports have held, so has the resistance -> Indicating accumulation & ranging; but this happening 'within' the rising channel indicates a continuation of trend.
3) The marked red candle exited the Bollinger band at the lower end - oversold conditions -> which was followed by plump green candles and also a high ATR = $ETH has VERY GOOD buying pressure.
All indications point to mauling of the bears, LET'S GO!!
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A break down of price from supports, will take it to historic (Feb 2018) supports at $1160 & $980.
Below that we have an extremely strong support at $700-$750
...........................
BUY THE DIPS!
Will update targets once we breakthrough ATH
Taking a look to find out if ETH will break through to all time high @$1392 or retrace to support around $1290
.
.
.
1) $ETH has been in a rising channel since the past 5 days, the momentum in BTC has slowed it down but the channel has remained intact throughout - a good sign.
2) The supports have held, so has the resistance -> Indicating accumulation & ranging; but this happening 'within' the rising channel indicates a continuation of trend.
3) The marked red candle exited the Bollinger band at the lower end - oversold conditions -> which was followed by plump green candles and also a high ATR = $ETH has VERY GOOD buying pressure.
All indications point to mauling of the bears, LET'S GO!!
...........................
A break down of price from supports, will take it to historic (Feb 2018) supports at $1160 & $980.
Below that we have an extremely strong support at $700-$750
...........................
BUY THE DIPS!
Will update targets once we breakthrough ATH