We will start with the daily chart this week as little has changed on the weekly chart compared to last week's analysis. The whole week we are trading in the resistance area but ETH has not been able to break it yet. However we do see that last night there has been a confirmation of a higer low. To confirm I always want to see 3 candle closes after the low or high. The ema's are good for the bulls and the ema55 has served as support all week and is rising. The volume is not very much and we see that in the rsi. After the cross over with the ema, the increase could continue and we will now have to wait and see if the rsi can stay above it.
1D chart:
https://www.tradingview.com/x/vnTeKPjW/
4h chart:
https://www.tradingview.com/x/FUmeJVVu/
Again we can see that the local highs are respected just like last week. As we can see on the volume profile (right) there is quite a resistance zone that needs to be breached. In order to realize that, printing a higer low is necessary on this timeframe. In any case, the ema's are good for the bulls but the rsi is cooling down for a while and is most likely heading towards the center line for testing. When the rsi goes down the chances for the bulls are considerably reduced.
1h chart
https://www.tradingview.com/x/9Gbk8uAZ/
On the 1h chart we have seen a structure break. What do I mean by a structure break: At the time the yellow zone was tested, the highs in front of it that served as resistance were broken. After testing the yellow zone the nuts went down again to the golden pocket measured with the fibonacci tool. This retrace and test is also a flip from resistance to support zone (on this timeframe).
The ema's are still going up and the rsi knows how to stay above the middle line. However, at this moment the rsi is still below the ema but when I put all signals together I expect that we can expect a crossover.
Conclusion:
On the higher timeframe it is important to stay above the blue zone to stay bullish. If we sink through, the next stop will be around $340. If we flip the yellow zone (380 - 390 dollar), which I do expect in the coming hours / days, the next target at higher timeframe would be around 440 dollar with resistance above that around 475 dollar.
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