Ethereum appears to have confirmed a bottoming out pattern, forming a double bottom on the weekly chart on 26th of august and 23rd september, of course the pattern is not complete until a confirmation break of the neckline at $210, but the charts are printing multiple bullish signals, with a break of a a multi month falling wedge that dates back to first contact in June 2019, also of note a bullish divergence on RSI dating back to first contact on 22nd April, and on the monthly dating back to November 2018.
Daily MACD has crossed bullish and weekly would indicate the returning strength of the bulls.
The break of the falling wedge also appears to have price action retesting the resisting trendline now turned support on lower time frames.
There's a lot of resistance on the way up, but I'm long on ETHUSD again.
Daily MACD has crossed bullish and weekly would indicate the returning strength of the bulls.
The break of the falling wedge also appears to have price action retesting the resisting trendline now turned support on lower time frames.
There's a lot of resistance on the way up, but I'm long on ETHUSD again.
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