Ethereum Gets Closer to Resistance at 5530 Once Again.

ETHMXN CHART PRICE – ETHMXN DAILY

ETHMXN has been oscillating in the range 5072 -5530  for more than a month, its resistance level has proven to be very hard to break as the cryptocurrency has not been able to pass it since June 1st, i’m still not seeing the Relative Strength Index going lower, currently sitting at 59%, we can expect the price to continue rising a little bit more before its reversal starts since yesterday it was very close but did not reach this level I will have to wait for the price to reach 5530 and the RSI start lowering at least a few points before I can place a short trade, the moving averages just crossed indicating an uptrend could continue, the bollinger bands are opening up quite aggressively indicating high volatility is expected and the price trades above the Ichimoku cloud, also indicating that the uptrend could continue, however we need to wait for our signals to trigger in order to go short.

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.