Ethereum (ETH) Price Update: No Signs of Reversal So Far

Hi guys!

Here are my thought on Ethereum for today.

ETH - Weekly Chart

Tools used: Stoch RSI, RSI and Trendlines

Since so far the market is very choppy, I checked the weekly chart and there is no sign of reversal for now. And as I mentioned yesterday about the $430 support line, as long as this support line holds the bull trend is still intact.

However if ethereum close bellow this price I think there is a big probability of a massive sell off pushing ethereum to the downside.

Note the fact that RSI and stoch RSI indicate ethereum is on the oversold zone there is going to be reversal to the upside. When and by how much nobody really knows. However, from volume and the shape of the candle alone we can have a confirmation on this reversal.

Disclaimer

You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!