Ethereum was able to break above the cloud at the point of least resistance, which was the kumo twist area but found resistance at the trendline. We found support along the way on the top of the cloud as well as on the Kijun and now on the Tenkan Sen. We can also see that the cloud has become very thick near this POC and any break back below would cause tremendous resistance for price BUT we currently seem to be holding above these level and with the news regarding the ICO funds having dumped most of their ETH hoards surfacing this morning could cause some bullish pressure.
We must keep an eye on these levels and where Bitcoin trends over the next few hours.
Thanks guys!
We must keep an eye on these levels and where Bitcoin trends over the next few hours.
Thanks guys!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.