ETH Daily Analysis: Can we break $104?
ETH has moved back into triple digit figures over last nights late trading hours. We saw how it sought to penetrate the $104 area four times before giving up and seeks to find some support before re-trying $104.
What do the charts say?
- The fibonacci illustrates that 0.786 lies at $99 and 0.618 at $95.
- It is more than likely that we will see 0.786 fibonacci at $99 – there is one volume gap to be filled there and buy levels all the way down.
- In this instance, ETH has a chart that illustrates far more buy side support than sell side support, making it seem that $95 is only likely if BTC goes to $3465.
- A look at the higher time frames illustrates one MA crossover, that could be enough momentum to break $104 and find some support.
- Accumulation has been increasing in ETH 27% Day on Day with Market sentiment drastically increasing during the weekend.
- MACD indicators flashing BUY and so too is Nouvive Signals.
- We may seem some cooling off to $99 to fill the volume gap there or $97 to find the previous support, but it is more than likely we will also seek to break $104 today too.
Nouvive Says: We may see some cooling off to $97-95, before a break of $104 over the course of the day.
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