Ether is trading in a relatively stable channel lately during BTC's pump impending the upcoming B2X
fork. ETH/USD price has been holding relatively consistent, but has been seeing increasing volatility
as the date grows closer. Should BTC
performance continue until the fork, ETH is expected to continue trading in this neutral channel. RSI
bouncing against recently establish bearish trend
. Tracking downward against current RSI
trend would expect ETH/USD price decrease to lower end of current trading channel, followed by a potentially volatile movement back towards the top of the channel.
Given the current trend, ETH is expected to be priced between $310 and $280 at the time of the B2X
fork. Given ETH's relatively stable performance, bullish
uptrend is expected post-fork if BTC
reallocated to alts.
• Hold current position until time of B2X
fork, potential long opportunity beyond Nov 16th.
• Buy ETH at ~$290 for upside realized post-fork.
• Take advantage of volatility
within current channel, and trade according to RSI