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ETH: Bulls Winning : Where’s it going this week?

Market Sentiment is Bearish for Ethereum. Despite that on the higher time frames , Ethereum is looking more than Bullish. Nouvive & Nouvive Intelligence discuss where Ethereum is going for the week. A bullish break above $212 signal a positive move to $216.

What does the 1 Week Higher Time frame say? 

  • Despite the rest of the market closing bearishly on the 1Week Higher time frame, ETH proved to stick together in order to show another Higher Higher, Higher Low. 
  • There are still gaps to be filled with at $209 – $206 – $213 – $219.

What does the 1 Day Higher time frame say?

  • accumulation has started to spike up over the past several days.
  • Over the past 4 days there have been several higher highs/
  • The MACD illustrates a bullish cross over on 1D Chart.
  • The RSI STOCHASTIC has crossed over – rejecting a dump giving ETH enough power to fill the gaps at $213 and $216.

Where does Nouvive see ETH going today?

  • ETH is currently trading between two ranges – $206 and $212 – A break above $212 will signal a bullish move to $216.
  • The RSI Stochastic is signalling there will not be a dump as that has once again been rejected. The 4h illustrate that there will be a move over $212.
  • The MACD is currently confused – however signalling an OPPORTUNITY to move above $212.
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