A climb back to $360 would show a breakout of the past few days of price action and the mid point retracement of September 5 down candle.
Traders would look for intra-day scalping opportunities from $360 up to $380, a 6% move.
From there we can expect another minor sell-off as traders take profits and test market sentiment.
A move above that $380 level any time soon would be a very bullish sign.
As it stands right now, price is finding support above the 1-day Ichimoku Cloud (using crypto settings). MACD histogram has also turned up showing upwards change of momentum.
Team Sparkster is cautiously long on Eth right now.
A drop to $320 would be quite bearish for near-term, suggesting a longer consolidation range between $290 and $380.
Visit our backtesting tool (currently in alpha version) to explore how we are converting technical strategies into backtested signals with fully transparent performance.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Traders would look for intra-day scalping opportunities from $360 up to $380, a 6% move.
From there we can expect another minor sell-off as traders take profits and test market sentiment.
A move above that $380 level any time soon would be a very bullish sign.
As it stands right now, price is finding support above the 1-day Ichimoku Cloud (using crypto settings). MACD histogram has also turned up showing upwards change of momentum.
Team Sparkster is cautiously long on Eth right now.
A drop to $320 would be quite bearish for near-term, suggesting a longer consolidation range between $290 and $380.
Visit our backtesting tool (currently in alpha version) to explore how we are converting technical strategies into backtested signals with fully transparent performance.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
