Analysis:
$300 for ETH has proven to be a very good resistance. As I noted a push above this ceiling should allow for a strong case for much more higher prices. The sideways pattern gives us an opportunity to spot a reset on a bullish sentiment. While the longer term charts show a bullish sentiment, it is trying to curl over into a down-trend, so the short-term chart should make its decision soon as to whether it wants to fall or break above.
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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