Update On Ethereum: Potential ETH/BTC Spike Incoming!

Ethereum Daily (ETH/USD)

Using the Fibonacci retracement tool on this whole 2019 movement (from the Swing Low to the Swing High), we can see that ETH is currently finding support at the 23,6% retracement level, which aligns perfectly with our previous major resistance at 157$ (Coinbase Chart). There's a bearish divergence on the MACD and the RSI, but the next few days will show us if the previous resistance becomes our support.

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Moving Averages

We crossed the 200 day MA (grey), which is above us since May 2018 and are currently bouncing at the 144 day EMA (red). Looking forward to the 50 day MA (blue) and 200 MA golden cross, happening perhaps in 3 weeks from now. Excluding the recent price spike, the Volume was increasing the last couple of days, which is a good sign.

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Ethereum Daily (ETH/BTC)

Very different from the /USD chart, the ETH/BTC shows us a symmetrical triangle, with the price retesting the lower trend line, at the 0.786 Fibonacci retracement. The RSI is at the 30 level and a potential spike could happen, bringing back ETH to 0.035 satoshis.

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