ETH/USD - Technicals Suggest Down Move

22 thg 10, 2018

Price appears to be rolling over but we are still edging towards the cliff-edge since it is so close to confirming but isn't there just yet. If I had to choose a side however, I'd say downside now. When analysing again, I discovered a new side-wards resistance which supports the downside. As well as the side-wards resistance, there is a 50 moving average resistance in play and still the big wick candle that hit the side-wards resistance (On two different technical levels). All of this nicely supports a down move and had price start to roll below 200's then that could be a short.

Bear in mind there is some below support between 190-180 which could prove an obstacle for the downside. However, if price breaks this level then a nice downside sweep is expected.

Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!

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22 thg 10, 2018

Ghi chú

Price is nicely tucked in under the side-wards resistance line, and I hope it does stay there because it would create a really nice rollover to the downside if so.

Price has a nice possibility of testing support at 191/182 too, so this level could be a nice take profit level on a quick scalp if we did take the downside with little risk of bouncing quickly and stopping us out in any sort of loss.

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