After it's downfall in price, it just bounce from previous recent lowest point and testing it's the resistance for ETH/BTC
This is a crucial moment for ETH/BTC to brake the down trend line (red line) from January 2018 and it's would be expected as a heavy resistance if it do break out from that down trend line, it's a good bullish sign for reversal trend. Conversely, fail to break from that downtrend line would be a devastating for ETH/BTC long run as the bearish sign in larger time frame is sighted quite clearly.
Indicators (1 day chart) :
MACD : looks like the histogram seller in the verge of changing trend, MACD line will converging with fast EMA and signal line create a bullish cross on MACD.
DMI : -DI (seller power) already cross ADX (momentum strength) down ward as a first sign of trend switching also +DI (buyer power) slightly want to catch -DI movement in near future.
RSI : rsi is currently on neutral zone and testing it's resistance that previously act as a support.
This is a crucial moment for ETH/BTC to brake the down trend line (red line) from January 2018 and it's would be expected as a heavy resistance if it do break out from that down trend line, it's a good bullish sign for reversal trend. Conversely, fail to break from that downtrend line would be a devastating for ETH/BTC long run as the bearish sign in larger time frame is sighted quite clearly.
Indicators (1 day chart) :
MACD : looks like the histogram seller in the verge of changing trend, MACD line will converging with fast EMA and signal line create a bullish cross on MACD.
DMI : -DI (seller power) already cross ADX (momentum strength) down ward as a first sign of trend switching also +DI (buyer power) slightly want to catch -DI movement in near future.
RSI : rsi is currently on neutral zone and testing it's resistance that previously act as a support.