SHORT TERM (1 hour chart)
ANALYSIS
After the breakout of descending channel, Ethereum made a pullback that brought tha price near the importan resistance of 300$.
EXPECTATIONS
The level of 300$ is really important and could change the current sideways movement into a new uptrend. I would not take position until the breakout of that resistance.
MEDIUM TERM (1 day chart)
ANALYSIS
Trend is still positive, but the price should go over 300$ to give a strong buy signal.
RSI is in its middle range (50), so it doesn't give any indication.
EXPECTATIONS
There's a lack of relative strenght, even if the trend i positive.
If I had a position, I would hold, otherwise I would wait the breakout of 300$ to buy.
If 300$ is broken, first target 315$.
ANALYSIS
After the breakout of descending channel, Ethereum made a pullback that brought tha price near the importan resistance of 300$.
EXPECTATIONS
The level of 300$ is really important and could change the current sideways movement into a new uptrend. I would not take position until the breakout of that resistance.
MEDIUM TERM (1 day chart)
ANALYSIS
Trend is still positive, but the price should go over 300$ to give a strong buy signal.
RSI is in its middle range (50), so it doesn't give any indication.
EXPECTATIONS
There's a lack of relative strenght, even if the trend i positive.
If I had a position, I would hold, otherwise I would wait the breakout of 300$ to buy.
If 300$ is broken, first target 315$.
Agreed
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