For a long time Etherum stayed in a heavy oversold area on the Bitcoin charts and now we have finally seen some life the last few days. We are starting to see a nice recovery for the old coin, even bringing down some of the overall Bitcoin dominance. Here are the facts:
Bullish Signals
Potential 10 period MA may cross the 20 day in the next few days
Candles closing above both the 10 and 20 period moving averages
RSI is at close to 50
Stoch trend is up.
Bearish Signals
RSI is falling flat
We are getting close to the top bollinger band so resistance is seen
Stock K line (blue) is pulling from the red which is a sign the price may not be sustainable and will reverse, and almost in oversold category.
I believe the run on Ethereum is starting to slow and we may see a retrace a bit back to at least the 20 period moving average before we may see a bounce. I think over time Ethereum will continue to com eback to life just that we will start seeing a small retracement now. Volume can always change this idea and shift things back to the bulls as there is still a little volatility for this coin.
Bullish Signals
Potential 10 period MA may cross the 20 day in the next few days
Candles closing above both the 10 and 20 period moving averages
RSI is at close to 50
Stoch trend is up.
Bearish Signals
RSI is falling flat
We are getting close to the top bollinger band so resistance is seen
Stock K line (blue) is pulling from the red which is a sign the price may not be sustainable and will reverse, and almost in oversold category.
I believe the run on Ethereum is starting to slow and we may see a retrace a bit back to at least the 20 period moving average before we may see a bounce. I think over time Ethereum will continue to com eback to life just that we will start seeing a small retracement now. Volume can always change this idea and shift things back to the bulls as there is still a little volatility for this coin.