Support and resistance can be found in this blue wedge type pattern as price falls. Trend line A and B make up this wedge.
The previous historical 61.8% Fibonacci level held as resistance, as expected. The ADX is still showing the bears in control of trend momentum, which should keep the market in selling mode to drop price back to previous lows within the wedge.
The RSI is showing buying interest drying up as price tried to rally. This is a signal for a stall. This week’s chart looks similar to last week and the sentiment remains bearish this week.
Look for a flat to lower ETH market this week.
Critical Resistance: $255.00
Key Resistance: $236.49
Key Support: $175.00
Critical Support: $137.83
Any questions let me know.
The previous historical 61.8% Fibonacci level held as resistance, as expected. The ADX is still showing the bears in control of trend momentum, which should keep the market in selling mode to drop price back to previous lows within the wedge.
The RSI is showing buying interest drying up as price tried to rally. This is a signal for a stall. This week’s chart looks similar to last week and the sentiment remains bearish this week.
Look for a flat to lower ETH market this week.
Critical Resistance: $255.00
Key Resistance: $236.49
Key Support: $175.00
Critical Support: $137.83
Any questions let me know.