ETH; Ten Red Weekly Candles! What's Happening?
Hello Traders! CTDave here again with another daily price analysis chart.
Today I will be analyzing ETH. Ethereum printed its 10 red weekly candle. What's happening?
Ethereum is currently in a downward channel and it has witnessed a record of 10 red weekly candles. The red and green areas are areas of support and resistance. The blue arrow indicates my opinion on the price move of ETH. RSI also shows almost oversold and based on my past experience, the RSI indicator usually retraces slightly after hitting the bottom before going down even lower. And then after that, the price should go up.
So the thick blue arrow is how I think the price will go. Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
Today I will be analyzing ETH. Ethereum printed its 10 red weekly candle. What's happening?
Ethereum is currently in a downward channel and it has witnessed a record of 10 red weekly candles. The red and green areas are areas of support and resistance. The blue arrow indicates my opinion on the price move of ETH. RSI also shows almost oversold and based on my past experience, the RSI indicator usually retraces slightly after hitting the bottom before going down even lower. And then after that, the price should go up.
So the thick blue arrow is how I think the price will go. Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
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