What's Ether looking like today? Let's look at the chart!
I am sure most of you guys out there can already tell it is not looking good. We have quite a bit of resistance above.
Let's start with the MA first. I have displayed the 50 (purple ) and 200MA (yellow), the 50 MA is well above price action, which suggests it will likely be a resistance if we decide to go back up. Right now we are testing the 200MA, needless to say that if today's candle closes below the 200MA and tomorrow's candle does the same (confirmation candle) then the 200MA will turn into resistance. This will be a strong resistance if you ask me.
Ichimoku cloud. Nothing good coming from the cloud indicator too, i's barely visible but i can tell you both the conversion line (blue) and the base line (red) are above us as well as the actual cloud. This is not a great sign and it's just more stacked resistance above us.
The next strong support i can see is at the ~$1500 mark, we will see if and how we will get there.
ETHUSD
I am sure most of you guys out there can already tell it is not looking good. We have quite a bit of resistance above.
Let's start with the MA first. I have displayed the 50 (purple ) and 200MA (yellow), the 50 MA is well above price action, which suggests it will likely be a resistance if we decide to go back up. Right now we are testing the 200MA, needless to say that if today's candle closes below the 200MA and tomorrow's candle does the same (confirmation candle) then the 200MA will turn into resistance. This will be a strong resistance if you ask me.
Ichimoku cloud. Nothing good coming from the cloud indicator too, i's barely visible but i can tell you both the conversion line (blue) and the base line (red) are above us as well as the actual cloud. This is not a great sign and it's just more stacked resistance above us.
The next strong support i can see is at the ~$1500 mark, we will see if and how we will get there.
ETHUSD