This is a general market update for Ethereum. We are not going to be talking about any specific trade setups, we’re just going to take a look at the major time frames to get a general sense of where we are and where we could be going in the near future.
Overall, we are neutral-bearish on the weekly momentum with price action forming an accumulation pattern.
Moving averages on the daily chart are fanning out to the upside but are also getting tighter. Price is generally trading flat in the middle of the major accumulation pattern.
Daily momentum has good upside pressure, we want to see RSI levels break above 60 on that timeframe. We are neutral-bullish on the daily but in a no trade zone.
4 Hour chart with areas of value is posted below. Check out the video above for the full in-depth technical analysis.