ETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% ETH, 48% Cash.
*Cryptos have been choppy over the weekend and are now seeing some buying pressure to finish the week. Equity Futures are currently down to start the week. Key Upcoming Dates: S&P US September Manufacturing PMI at 945am EST 10/03; September Employment Situation at 830am EST 10/07.*
Price is currently testing $1270 minor support for the second consecutive session, if Price breaks below this level then it will likely retest $1k psychological support and potentially lower to $776 minor support. Volume has favored sellers in the past four sessions and was Low for the past two consecutive sessions, indicative of weak support at these levels; however, it's currently on track to favor buyers if it can close today's session in the green. Parabolic SAR flips bullish at $1358, this margin is bullish. RSI is currently trending up at 39 after bouncing off of the uptrend line from November 2018 at 36.91 support. Stochastic remains bearish and is currently beginning to form a trough at 66 as it's still technically testing 80.69 support. MACD remains bullish and is currently trending sideways at -69 for the fourth consecutive session, the next resistance (minor) is at -46.46 and the next support is at -90.80. ADX is currently trending up slightly at 34 as Price continues to trend down slightly, this is bearish at the moment.
If Price is able to defend $1270 minor support then it will likely retest $1427 resistance. However, if Price breaks down below $1270 minor support, it will likely retest $1k psychological support. Mental Stop Loss: (two consecutive closes below) $1269.54.
*Cryptos have been choppy over the weekend and are now seeing some buying pressure to finish the week. Equity Futures are currently down to start the week. Key Upcoming Dates: S&P US September Manufacturing PMI at 945am EST 10/03; September Employment Situation at 830am EST 10/07.*
Price is currently testing $1270 minor support for the second consecutive session, if Price breaks below this level then it will likely retest $1k psychological support and potentially lower to $776 minor support. Volume has favored sellers in the past four sessions and was Low for the past two consecutive sessions, indicative of weak support at these levels; however, it's currently on track to favor buyers if it can close today's session in the green. Parabolic SAR flips bullish at $1358, this margin is bullish. RSI is currently trending up at 39 after bouncing off of the uptrend line from November 2018 at 36.91 support. Stochastic remains bearish and is currently beginning to form a trough at 66 as it's still technically testing 80.69 support. MACD remains bullish and is currently trending sideways at -69 for the fourth consecutive session, the next resistance (minor) is at -46.46 and the next support is at -90.80. ADX is currently trending up slightly at 34 as Price continues to trend down slightly, this is bearish at the moment.
If Price is able to defend $1270 minor support then it will likely retest $1427 resistance. However, if Price breaks down below $1270 minor support, it will likely retest $1k psychological support. Mental Stop Loss: (two consecutive closes below) $1269.54.