ETH is in search for a trend because so far, since early January, we do not seem to know where we are going. We keep bouncing in a 25% range which is slowly tightening as indicated by the large wedge.
The indicators on 4h show no trend, rather the range for price is getting smaller so I expect that in a few days ETH will break out of this wedge one way or another. Possible path on the chart.
The daily indicators looks somewhat bullish to me. For this reason I still expect us to break up of this range and set a new ATH. If not, then ETH will drop quite quickly to a new support level.
I do not see any good entries now on this chart, better to wait.
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The indicators on 4h show no trend, rather the range for price is getting smaller so I expect that in a few days ETH will break out of this wedge one way or another. Possible path on the chart.
The daily indicators looks somewhat bullish to me. For this reason I still expect us to break up of this range and set a new ATH. If not, then ETH will drop quite quickly to a new support level.
I do not see any good entries now on this chart, better to wait.
Like and follow if you liked this idea!
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