ETH Daily TA Neutral Bullish
ETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% ETH, 40% Cash.
*Cryptos are mixed with certain altcoins like ANKR (hot off of APTOS integration news), ATOM and MATIC up while the broader market is mostly flat. Equities, Equity Futures, Gold, EURUSD and 30yr US Treasury bonds are up while VIX, Energy, Agriculture, 10yr US Treasury bonds, DXY, GBPUSD, JPYUSD and CNYUSD are all down. Netflix beat Q3 expectations on both top and bottom lines. Russia continued its renewed attacks on Ukraine today and Ukraine reports that 30% of their power grid infrastructure has now been damaged. Key Upcoming Dates: US September Building Permits and Housing Starts at 830am EST 10/19; 19th GDPNow US Q3 GDP estimate 10/19; S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.*
Price is currently trending up at ~$1315 after bouncing off of $1270 minor support as it looks to retest the 50 MA as resistance at $1427 resistance. Volume is currently High (low) and on track to break a two day streak of buyers dominance if it can close today's session in the red. Parabolic SAR flips bullish at $1371, this margin is bullish. RSI is currently trending down at 46 after forming a peak just below the upper trendline of the Symmetrical Triangle from February 2020 at ~49. Stochastic remains bullish, is currently trending up at 86 and is still technically testing 81 resistance. MACD remains bullish and is currently trending up slightly at -31, the next resistance is at 27.77. ADX is currently trending down slightly at 31 as Price is slowly rising, this is neutral at the moment.
If Price is able to continue up from here then it will likely retest the 50 MA as resistance at $1427 resistance. However, if Price breaks down here, it will likely retest $1270 minor support. Mental Stop Loss: (one close below) $1270.
*Cryptos are mixed with certain altcoins like ANKR (hot off of APTOS integration news), ATOM and MATIC up while the broader market is mostly flat. Equities, Equity Futures, Gold, EURUSD and 30yr US Treasury bonds are up while VIX, Energy, Agriculture, 10yr US Treasury bonds, DXY, GBPUSD, JPYUSD and CNYUSD are all down. Netflix beat Q3 expectations on both top and bottom lines. Russia continued its renewed attacks on Ukraine today and Ukraine reports that 30% of their power grid infrastructure has now been damaged. Key Upcoming Dates: US September Building Permits and Housing Starts at 830am EST 10/19; 19th GDPNow US Q3 GDP estimate 10/19; S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.*
Price is currently trending up at ~$1315 after bouncing off of $1270 minor support as it looks to retest the 50 MA as resistance at $1427 resistance. Volume is currently High (low) and on track to break a two day streak of buyers dominance if it can close today's session in the red. Parabolic SAR flips bullish at $1371, this margin is bullish. RSI is currently trending down at 46 after forming a peak just below the upper trendline of the Symmetrical Triangle from February 2020 at ~49. Stochastic remains bullish, is currently trending up at 86 and is still technically testing 81 resistance. MACD remains bullish and is currently trending up slightly at -31, the next resistance is at 27.77. ADX is currently trending down slightly at 31 as Price is slowly rising, this is neutral at the moment.
If Price is able to continue up from here then it will likely retest the 50 MA as resistance at $1427 resistance. However, if Price breaks down here, it will likely retest $1270 minor support. Mental Stop Loss: (one close below) $1270.
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