Ether is trading in a relatively stable channel lately during BTC's pump impending the upcoming B2X fork. ETH/USD price has been holding relatively consistent, but has been seeing increasing volatility as the date grows closer. Should BTC performance continue until the fork, ETH is expected to continue trading in this neutral channel. RSI bouncing against recently establish bearish trend. Tracking downward against current RSI trend would expect ETH/USD price decrease to lower end of current trading channel, followed by a potentially volatile movement back towards the top of the channel.
Given the current trend, ETH is expected to be priced between $310 and $280 at the time of the B2X fork. Given ETH's relatively stable performance, bullish uptrend is expected post-fork if BTC reallocated to alts.
Recommendations:
• Hold current position until time of B2X fork, potential long opportunity beyond Nov 16th.
• Buy ETH at ~$290 for upside realized post-fork.
• Take advantage of volatility within current channel, and trade according to RSI trends.
Given the current trend, ETH is expected to be priced between $310 and $280 at the time of the B2X fork. Given ETH's relatively stable performance, bullish uptrend is expected post-fork if BTC reallocated to alts.
Recommendations:
• Hold current position until time of B2X fork, potential long opportunity beyond Nov 16th.
• Buy ETH at ~$290 for upside realized post-fork.
• Take advantage of volatility within current channel, and trade according to RSI trends.