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ETH Daily Analysis: $106 to be revisited Today

What do the Charts say ? 

Bullish

  • A move over $114 would indicate that any dump to $106 has been rejected and a retest of $119 is on sight.
  • The lower time frames (2H) looks bullish based on RSI Stochastic cross-over (however Accumulation has not yet spiked to complement this) - meaning many traders are waiting for an indicative move to the upside or downside.

Bearish

  • Despite any historical price analysis indicating that based on BTC revisiting $4200, ETH would match that to $120 - in order for that to happen as was seen on the 30th November, we saw a long wick down to $108.30.
  • Based on Volume gaps in the area, this wick that we will see will be to $106.
  • On the higher time frames, a dump does not look as if it has been finished based on RSI Values. Any conciliatory bounce was viewed across the weekend as a dead cat bounce.
  • MACD has also crossed-over to the bearish side on the higher time frame charts illustrating $106 is MORE THAN LIKELY.

Nouvive Says: It is more than likely that if $114 is seen - we will see a retest of $118 at the least, before a move back down. In any case, $106 will be re-visited based on price action and lack of buy side volume flooding the market.

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ViFeed Indicators

Bitcoin (BTC)
$5031.42
50.00 RSI
-3.58%
Hold
Ethereum (ETH)
$164.32
48.00 RSI
-4.19%
Hold
XRP (XRP)
$0.33
36.00 RSI
-3.95%
Buy
Litecoin (LTC)
$78.05
45.00 RSI
-8.59%
Hold
EOS (EOS)
$5.28
33.00 RSI
-6.56%
Buy
Bitcoin Cash (BCH)
$267.26
46.00 RSI
-5.89%
Hold
Binance Coin (BNB)
$17.23
42.00 RSI
-2.57%
Buy
Tether (USDT)
$1.01
0.00 RSI
0.20%
--
Stellar (XLM)
$0.11
25.00 RSI
-4.66%
Buy
Cardano (ADA)
$0.08
26.00 RSI
-5.17%
Buy
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