In the previous review on ETHUSD, we wrote about the reversal trend on the daily chart.
This assumption was mainly based on the Elliott Wave Theory.
Now the idea of selling Ethereum got confirmed by the trend indicator: "Crossing of moving averages." The Crossing occurred on Monday and today the price returned to the slow moving average from below. This is an ideal moment to open a short position.
MAcross on the daily charts was in the purchase since November, with a price of about $ 300. Now it’s January and the price is $ 1090. + 263% in two months.
Two previous corrective waves were ignored by this indicator technically and it remained in the purchase.
Ethereum looks much stronger than Bitcoin, but the correction seems close.
Recommendation: open positions for sale with a target of $ 500- $ 700
This assumption was mainly based on the Elliott Wave Theory.
Now the idea of selling Ethereum got confirmed by the trend indicator: "Crossing of moving averages." The Crossing occurred on Monday and today the price returned to the slow moving average from below. This is an ideal moment to open a short position.
MAcross on the daily charts was in the purchase since November, with a price of about $ 300. Now it’s January and the price is $ 1090. + 263% in two months.
Two previous corrective waves were ignored by this indicator technically and it remained in the purchase.
Ethereum looks much stronger than Bitcoin, but the correction seems close.
Recommendation: open positions for sale with a target of $ 500- $ 700
