Ahh. What can we say, ETH has been languishing at the $300 level. Rightfully so, as it is an important level. Therefore, going forward you can divide / multiply $300 into halves, quarters, etc. and you should find that the levels should also be important going forward. $600 would be just as important as $150 or $225 (See end July - early Aug). Future resistance should be viewed at the $375, $450, $525 & $600 level. The immediate signal is bearish, but longer-term sentiment is still looking bullish.
Foot Note:
-RIGHT CLICK ON IMAGE AND OPEN IN ANOTHER TAB TO SEE FULL RESOLUTION-
When analyzing this chart, you will notice the Slow Stochastics indicator. I find this indicator to be the complete indicator compared to the vast majority out there. Lets explore the terms I will be using. Also use the indicator based on its respective time-frame:
Time-Frame:
1 hour - Lasts 1 hour - Few days
Daily - Last Days - Week(s)
Weekly - Last Week(s) to Month(s)
Term used:
OB - OverBought (above 80)
OS - OverSold (Below 20)
Bullish - Above 50
Bearish - Below 50
Trend - Cross up in both channel line or Cross down in both channel line.
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