DU09

ETH/USD - Price approaching decision time! Careful!

BITSTAMP:ETHUSD   이더리움
ETH is approaching the margins of our wedge which has to hold the price, otherwise, we may have a deeper correction on our plate.

Why I say this, look at daily indicators:

MACD - we have a bearish divergence, plus we're about to flip on the negative side...
RSI - bearish divergence...
Volume - declining...

Not looking that good, we need a bit of momentum soon or we're in trouble if we fall off the wedge/support. Worst case scenario we go back to $1.4k, our previous ATH.

BTC however looks much better at this time... maybe people are selling alts for BTC? Could be. Tomorrow we will know where we are headed, so keep a close eye on ETH.

Bias is somewhat bearish right now, but if support holds, we're good.

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