ETH is at the critical support which was our previous ATH / resistance. We bounced last time from this level, however now we are back on this support line.
If we drop under $1,360 then I will be very concerned.
On the positive side, we are forming quite a nice bullish divergence on RSI. This pattern is on several altcoins, so there is some hope we may turn around here. But BTC is still in a downtrend... and may drag us lower until we find support. Check my BTC idea for that.
Be careful in this area as we can go either way and best to be patient and let price lead the way before jumping into a trade. Sometimes the best trades are to do nothing. ;)
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
If we drop under $1,360 then I will be very concerned.
On the positive side, we are forming quite a nice bullish divergence on RSI. This pattern is on several altcoins, so there is some hope we may turn around here. But BTC is still in a downtrend... and may drag us lower until we find support. Check my BTC idea for that.
Be careful in this area as we can go either way and best to be patient and let price lead the way before jumping into a trade. Sometimes the best trades are to do nothing. ;)
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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