ETHUSDT
Technicals:
- Two Multi-Year strong Horizontal Trendlines
- Stochastics is almost in Oversold conditions
- Price action close to a Short-Term Resistance Trendline (may break if Brexit causes volatility )
Fundamentals:
- The crypto space has taken a drastic hit from big capital wipeouts from major selloffs in various asset classes
- There is still plenty of fear going on in the market and this bear market may drag on for some time
Expecting a slow grind towards UDS1500/ETH (demand zone) but once market recovers, will be expecting a recovery for ETH to around the USD2450 levels.
We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.
*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.
Technicals:
- Two Multi-Year strong Horizontal Trendlines
- Stochastics is almost in Oversold conditions
- Price action close to a Short-Term Resistance Trendline (may break if Brexit causes volatility )
Fundamentals:
- The crypto space has taken a drastic hit from big capital wipeouts from major selloffs in various asset classes
- There is still plenty of fear going on in the market and this bear market may drag on for some time
Expecting a slow grind towards UDS1500/ETH (demand zone) but once market recovers, will be expecting a recovery for ETH to around the USD2450 levels.
We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.
*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.
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FX @ GoMarkets bit.ly/GoMarketsFX
Crypto @ HTX bit.ly/HTXExchange
Twitter Follow @ x.com/weekendanalyst
Twitter Community @ bit.ly/TweetAway
DM me to analyze any pair. :D