ETHEREUM Seeing A Week Of Sideways Trading -- Repeat??

in #ethereum7 years ago

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Ethereum hasn't seen much movement or interest over the trading periods this last week. Usually, what we've seen in a lot of cryptos (STEEM, for example), is prices stabilizing for a long period indicating a determined market fair value while interest rejuvenates.

Judging the daily chart, volumes aren't too different than they were on the way up to the top. This means equal uncertainty as the order book is heavy over a short range. When there's steady bull movement, there's less orders on the upside, so prices are easy to move higher on less volume....that's typically what we see at the tops, and also why RSI at a lower high with higher high price is a tell of a potential peak coming. Lack of numbers in the order book often signal low support which is why prices crash so hard on the initial way down -- they need to establish a level of support.

For the 6th day, we have seen ETH make a lower high. Although prices are pretty flat, this still isn't the best sign for an immediate breakout. I would like to see some alternating highs at least.

Overall I still love Ethereum, but right now I don't see it having the attention or momentum compared to the other coins that are about ready to move.

Happy trading!

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Big H&S vs BTC pair too, hasn't broken the neckline yet tho

On the daily or which chart are you looking at?

Bittrex, sorry for the late response, i guess it was invalidated or maybe a throwback. ETH is doing well vs BTC now

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I am fearful for the fudders with ETH but it seems like your probably right at this point however we did see a very similar pattern emerge on the weekly chart prior to the bull run in December. its possible it will continue for a good while until we see another surge in other crypto's and new money enters the market!

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Good job brother @exxodus