Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it!
Looking at the daily chart, you can see that ETH has EXPLODED to the upside, rising nearly 13% since yesterdays bullish analysis. As you can see, ETH is running into resistance at the red horizontal trendline, but could still print more upside. The only reason that I don't like the ETH chart as much as other charts like LTC, is because it's in this rising wedge pattern (in blue.) That's actually a bearish formation, but that doesn't mean that there isn't room for more upside. It's just something I don't think is very attractive about this chart. That is especially true when I compare it to the LTC, chart, which has no such formation. Regardless, ETH is definitely printing a strong bullish candle. At this point, one can only expect that Ethereum will test the top of the rising wedge, assuming it closes above the red horizontal resistance lines. Good luck trading everyone!
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Looking at the daily chart, you can see that ETH has EXPLODED to the upside, rising nearly 13% since yesterdays bullish analysis. As you can see, ETH is running into resistance at the red horizontal trendline, but could still print more upside. The only reason that I don't like the ETH chart as much as other charts like LTC, is because it's in this rising wedge pattern (in blue.) That's actually a bearish formation, but that doesn't mean that there isn't room for more upside. It's just something I don't think is very attractive about this chart. That is especially true when I compare it to the LTC, chart, which has no such formation. Regardless, ETH is definitely printing a strong bullish candle. At this point, one can only expect that Ethereum will test the top of the rising wedge, assuming it closes above the red horizontal resistance lines. Good luck trading everyone!
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.