ETH Losing Ground to USD

ETHUSD CHART PRICE – ETHUSD DAILY

Ethereum has lost 1% in the last two trading days and it looks like it could start its dive to the support level, after touching its resistance last week, we did not see a lot of action on this pair for the start of the week, but we see that the bollinger bands are getting wider, which indicates high volatility, hopefully this will drive the price down very soon, we see that the Relative Strength Index is also dropping from 55 to 51%, this pair has found it very hard to break 250 in the last three months, it’s a good opportunity to capitalize on these movements, I see that the moving averages are indicating an uptrend, so I would wait a few hours before making a decision, I will continue to monitor the RSI levels, in order to make a short trade I need the RSI to go a few points lower and this could also change the moving averages signals as they might cross if the price continues to fall, the price is trading above the Ichimoku cloud, but the pair has not been able to take since June.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.