$ETH sitting at 2,280 after getting slapped down from 2,318 earlier today. Two lines are closing in on the 4H 👇
• Trend: lows keep stepping up since the Oct 30 flush (2,174 > 2,208 > 2,234 > 2,248), but price is still under the 4H EMA50 (~2,303) and EMA200 (~2,434)
• Resistance: 2,300-2,318, where the falling line from the Oct 22 high (2,527) meets the EMA50 and today's wick top. Above that, 2,370-2,392 (Oct 29-30 highs)
• Support: 2,278-2,283 (today's lows), then 2,248-2,259 (rising-low line + today's low), then 2,208 and 2,174
• RSI ~50, flat. Nobody is in control yet
• Bullish case: a 4H close above 2,318 clears the falling line and opens 2,370-2,392
• Bearish case: losing 2,248 breaks the rising lows and puts 2,208 and 2,174 back on the table
Conclusion: the range between 2,248 and 2,318 is getting tight. I'm waiting for a 4H close outside it before picking a side.
Not financial advice.
#ETH #Ethereum #TechnicalAnalysis #CryptoMarket #Binance
• Trend: lows keep stepping up since the Oct 30 flush (2,174 > 2,208 > 2,234 > 2,248), but price is still under the 4H EMA50 (~2,303) and EMA200 (~2,434)
• Resistance: 2,300-2,318, where the falling line from the Oct 22 high (2,527) meets the EMA50 and today's wick top. Above that, 2,370-2,392 (Oct 29-30 highs)
• Support: 2,278-2,283 (today's lows), then 2,248-2,259 (rising-low line + today's low), then 2,208 and 2,174
• RSI ~50, flat. Nobody is in control yet
• Bullish case: a 4H close above 2,318 clears the falling line and opens 2,370-2,392
• Bearish case: losing 2,248 breaks the rising lows and puts 2,208 and 2,174 back on the table
Conclusion: the range between 2,248 and 2,318 is getting tight. I'm waiting for a 4H close outside it before picking a side.
Not financial advice.
#ETH #Ethereum #TechnicalAnalysis #CryptoMarket #Binance
