ETH to see Double Digits Today: Bullish-Bearish View
What does the technical Analysis Show?
- The lower time frames illustrate that ETH is unable to get above the 15MA resistance. Nouvive intelligence views this ability to jump over it as HIGHLY IMPROBABLE.
- There is simply not enough retail investors nor buy side support to encourage a move past $104 today.
- Accumulation according to the OBV has peaked, therefore seeing it highly unlikely we could see the morning peak of $106.
- RSI Stochastic is oversold on Ethereum despite its decrease, illustrating that we will see $97.60
- A crossover on the RSI Stochastic that will be occurring shortly could see ETH dump to the lows.
- The RSI Stochastic on the lower time frames are set to cross over, there are volume gaps at $106.31 and $110 – it is possible a high powered move spurred on by BTC rise to over $6700 could see the same for Ethereum.
- A dip to the previous lows of $97.27 could see a spike as we saw on the 25th of November that could see the gaps filled at $118 and above the previous yearly low at $120.
- Accumulation on the higher time frames have spiked up – illustrated by rising market sentiments to dollar cost average into longs in anticipation of a bounce at the lows of $97.
Nouvive sees a short for Ethereum to $97.
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