ETH/USD Daily TA Neutral Bullish

8 thg 6, 2022

ETH/USD Daily neutral with a bullish bias. *The Merge is officially live on Ropsten Testnet, IF all goes well in the coming months it will likely be deployed on Mainnet in August.* Recommended ratio: 53% ETH, 47% Cash. Price is currently trending down after being rejected by the upper trendline of the Bull Flag from 05/12/22 ($1863) as resistance. Volume remains Moderate and is on track to favor sellers for a second consecutive session if it closes today in the red. Parabolic SAR flips bullish at $1941 resistance, this margin is mildly bullish. RSI is currently trending sideways at 40 as it continues to hover above 36.91 support for an eighth consecutive session. Stochastic remains bullish and is currently on the verge of a bearish crossover at 73 as it aims to retest 80.69 resistance. MACD remains bullish and is currently trending up slightly at -124; the next resistance is at -90.80. ADX is currently trending down slightly at 38 as Price continues to consolidate for its next move, this is mildly bullish. If Price is able to break out above the upper trendline of the Bull Flag at $1863, the next likely target would be a formal retest of $1941 resistance. However, if Price continues to fall here then the next likely target would be a retest of $1711 support. Mental Stop Loss: (one close below) $1711.