Ethereum update on 1D - down move incoming - target 285 $
Dear traders and followers,
the Ethereum price is since beginning of August in "sideways" movement ( 360 - 410 $ ) and seems to lose buy volume. If the market doesn't start another up wave and break & close above drawn red resistance line a strong down correction to 280- 285 $ is very likely to happen because market wasn't strong enough to form a higher high on the daily chart.
Indicators:
- MACD buy volume is near 0 line / reversal to sell volume and the baselines are near bearish crossing --> sell signal
- RSI baseline going back into usual range after moving several days in the overbought area --> sell signal
- Generell sell volume start to rise --> sell signal
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
the Ethereum price is since beginning of August in "sideways" movement ( 360 - 410 $ ) and seems to lose buy volume. If the market doesn't start another up wave and break & close above drawn red resistance line a strong down correction to 280- 285 $ is very likely to happen because market wasn't strong enough to form a higher high on the daily chart.
Indicators:
- MACD buy volume is near 0 line / reversal to sell volume and the baselines are near bearish crossing --> sell signal
- RSI baseline going back into usual range after moving several days in the overbought area --> sell signal
- Generell sell volume start to rise --> sell signal
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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