Looking at the daily chart of ETH and most importantly the stochs oscillator you can see that in 176 days this is the 5th time we are testing the same trendline. In the same time we are holding support on the 21 EMA and on the horizontal support of the 1750 area.
If we bounce from this level and the stochs get a bullish cross I'd be expecting ETH to continue the rally to a new ATH.
If we don't and we break below the trendline I'd be expecting a pretty big drop and if we make a lower low I'd be very skeptical if this rally isn't over for the next several months at least.
If we bounce from this level and the stochs get a bullish cross I'd be expecting ETH to continue the rally to a new ATH.
If we don't and we break below the trendline I'd be expecting a pretty big drop and if we make a lower low I'd be very skeptical if this rally isn't over for the next several months at least.
