So, ETH was bouncing between 740 $ & 650 $ (Yellow).
We're looking at a descending RSI & MACD BUT the RSI seems like it wants to start to move up a bit, only time could bring confirmation on this points. (It could mean that ETH might begin its rise sooner).
The possibilities are:
- ETH continues to the stronger support and kicks off at the last weaker support or at the stronger support (Green & Purple)
- ETH COULD form a new support somewhere and kick off at that point (Not marked on chart but imagine)
- ETH fails to kick off and breaks the stronger support to continue its ride to the depths
We're looking at a descending RSI & MACD BUT the RSI seems like it wants to start to move up a bit, only time could bring confirmation on this points. (It could mean that ETH might begin its rise sooner).
The possibilities are:
- ETH continues to the stronger support and kicks off at the last weaker support or at the stronger support (Green & Purple)
- ETH COULD form a new support somewhere and kick off at that point (Not marked on chart but imagine)
- ETH fails to kick off and breaks the stronger support to continue its ride to the depths