EthereumShort
Is Ethereum about to drop?
PRICE ACTION
The 5m chart is showing a pattern of lower lows and lower highs; suggesting that – without fresh capital – bulls are finding it hard to draw battle lines and build a support. Volume is sporadic and volatile; however, price is moving without volume. Suggests weak liquidity pools.
On the 4H chart; we see a hidden bearish forming; with lower highs on price diverging from higher highs on the RSI. Will be interesting to see whether the rejection off $160 will be enough to push price to test the lower range down to $145. Not a lot of history here; so once the psychology of $150 washes away; we could very much see a price drop lower.
Finally, the 1W and 1D charts offer some insight on where support could be built. The 13W moving average; and the 26W moving average are in close proximity to each other – and not too far below the current price; at $145 and $136 respectively. As the 28D MA rolls over and resets into a falling trend; look for it to constrict price and force some price action to happen.
OPEN INTERESTS (BITFINEX)
Long: 1.58 Days
Short: 0.34 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 160, 166 (28D MA), 180
Support: 155, 145 (13W MA), 136 (26W MA)
PREVIOUS ANALYSIS
The 5m chart is showing a pattern of lower lows and lower highs; suggesting that – without fresh capital – bulls are finding it hard to draw battle lines and build a support. Volume is sporadic and volatile; however, price is moving without volume. Suggests weak liquidity pools.
On the 4H chart; we see a hidden bearish forming; with lower highs on price diverging from higher highs on the RSI. Will be interesting to see whether the rejection off $160 will be enough to push price to test the lower range down to $145. Not a lot of history here; so once the psychology of $150 washes away; we could very much see a price drop lower.
Finally, the 1W and 1D charts offer some insight on where support could be built. The 13W moving average; and the 26W moving average are in close proximity to each other – and not too far below the current price; at $145 and $136 respectively. As the 28D MA rolls over and resets into a falling trend; look for it to constrict price and force some price action to happen.
OPEN INTERESTS (BITFINEX)
Long: 1.58 Days
Short: 0.34 Days
RELATIVE STRENGTHS
- Micro (5m): Oversold
- Short Term (4h): Hidden Bearish
- Mid Term (1D): Lower Low
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Falling
- Macro (1W): Flat
KEY PRICE AREAS
Resistance: 160, 166 (28D MA), 180
Support: 155, 145 (13W MA), 136 (26W MA)
PREVIOUS ANALYSIS
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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.