Ethereum Technical Analysis – 1-Hour Candle Stick Chart, Short Term Recommendation (Intra-Day)
|Current Price||1283||Current Price < Yesterday’s Price||Bearish|
|EMA 20||1328||EMA 20 < EMA 50||Bearish|
|EMA 50||1333||EMA 50 > EMA 100||Bullish|
|EMA 100||1331||EMA 100 < MA 200||Bearish|
|MA 200||1325||1. Current price < MA 200|
2. All the EMAs are in crossing down region. Refer the photo attached.
2. Waiting couple of hours to see whether the token pulls back or slips further down, would be wise.
|MACD 19 39 9||MACD is below Signal Line||Bearish|
|RSI 14||30.54||RSI 14 < RSI 200||RSI 14 is close to 30. Short term long position could be taken.|
|RSI 200||46.44||RSI has plenty of room to increase further – Bullish|
|Volume||Initially price increased with the decrease in volume (Light Blue Line) and then price falls sharply (Red Line) with the decrease in volume||Bearish|
|Entry Price||1300||Wait, until the price is retraced to 23.6% Fibonacci level i.e USDT 1300. At 23.6% level, if any bearish candle pattern forms (e.g. Shooting Star, Hanging Man, Dark Cloud Cover or Bearish Engulfing), take position, else wait for 38.2% retracement i.e. USDT 1318 and look for the aforementioned candle stick pattern.|
|Leverage||10x||Owing to the market uncertainty, keep lowest possible leverage.|
|Take Profit 1||1268|
|Take Profit 2||1237|
|Take Profit 3||1219|
All the three EMAs are crossing down, implying a strong bearish move. The price may retrace to 23.6% level i.e. 1298 or 38.2% level i.e 1318 and then it may fall again.
In Day-Chart, Shooting Star has formed, implying a further decline in price.
*Recommendations are speculative. Getaka Doesn’t bear any responsibility if there is any financial loss whatsoever