Ethereum is Almost Bullish
- ETH is lagging behind Bitcoin. However, there is some room for optimism, especially if ETH can push up above the 50D EMA and provide a ChoCh.
- ATM, ETH is oversold on the 1-4 Hour timeframes, but the HTF still have ample capacity for price appreciation.
- Also, there is no bearish divergence that I can see.
- Presently, ETH’s price is at 1812 USD close to the 50D EMA and the Fixed Range Volume PoC.
- My best case for ETH is another push up and then a pullback.
- The most likely outcome, IMO is that will pullback without any significant PA, and shoot for higher when Bitcoin does. However, if BTC keeps blasting through the levels, ETH will most likely follow.
- Personally, I don’t see a long trade yet. If anything, I am tempted to short.
