ETHUSD Uncertainty

ETHUSD CHART PRICE – ETHUSD DAILY

Ethereum is currently trading inside the ichimoku cloud which means that the price could move sideways, there is a short term downtrend, however it is not strong enough for us to place a trade, I would like to see the price exit the cloud to be able to determine a good trend and capitalize on it, the bollinger bands are wide and steady, we should not expect aggressive movements for now, but we can never tell with cryptocurrencies, the moving averages also indicate a downtrend could continue, the relative strength index is at 47% which can be also seen as an uncertainty level since the price has the strength to move either way at this point we would want to wait for more signals in order to make a prediction.

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.