ETH Ethereum Possible Reversal for Cryptos OR Not??? (1H Chart)
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I'm studying Cryptos quite a lot. They've taken a massive interest to me.
Following the little stock market crash a few days ago where we saw indexes like DAX, SPX and FTSE all drop by a good 3-5%. Which all now seem to be rising in value. We've seen that most Cyrpto markets have been on a big bearish move.
Now the thing is, when Bitcoin drops in price. So do many other coins and tokens. Largely because BTC is exchanged to a lot of these coins. When the price drops, the investors interest is also lost.
Back to the chart we can see we've had what appears to be a strong bullish movement with a lot of buy orders being placed. Many people might suggest this is a reversal. However, as of the past hour I've picked up on divergence in MACD and the exponential averages are levelling out.
If I was to make an educated analysis of the charts, I would say we are entering a consolidation or a channel. I believe the long term action is >>> BUY <<< but expect the price to remain very unpredictable, at best. I base this prediction on the fact that overall ETH is based on better technology and transaction rates are superior to Bitcoin. They still remain correlated however.
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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.