Ethereum Technical Analysis : Lot of Resistances on the path of Rec...

Hey folks,

Although MACD and RSI looks very Bullish, lot of resistances $225, $245 present on the upside move.

Screen Shot 2017-07-12 at 10.54.14 PM.png

Resistance of $220 according to daily pivot band

Screen Shot 2017-07-12 at 11.01.43 PM.png

Weekly Pivot band

Screen Shot 2017-07-12 at 10.44.29 PM.png

Trendlines: Supports and Resistances

Screen Shot 2017-07-12 at 10.51.59 PM.png

On 4-hourly price chart, MACD is still in bearish zone facing upwards with RSI under 50 level.

Screen Shot 2017-07-12 at 10.53.32 PM.png

Key Highlights :

Early sign of recovery on hourly price chart of ETH/USD pair
Still lot of resistances present on the way to bullishness

TBH: I took LONG position at $212 with my Risk management in place. ( I took entry after seeing the price close above pivot line with confirmation of MACD and RSI on hourly chart) Update: => and next candle went to $222

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Ethereum Technical Analysis : Lot of Resistances on the path of Recovery