I'm not that confident into ETH now, lacks steam
Hi all,
Let's also have a quick look at how ETH is performing at the end of the workweek.
The coin manage to break above $240 in the evening hours on Wednesday and avoided falling into the bear flag trap. However, it is struggling to get past $245-$246 now and the overall decrease of volumes is not helping the situation.
Volumes dropped from $14 billion on Wednesday down to $8-$9 billion on Thursday and Friday morning.
This is the situation we are in currently on 1-hour and the uptrend is starting to look weak now. Let´ see how price reacts once we touch $240 again and I think this will happen today or tomorrow.
It of course depends on what direction the price will take in the next few hours up to the end of the session today. As you can see on the 4-h chart we are on course to close down the symmetrical triangle.
Cheers,
Let's also have a quick look at how ETH is performing at the end of the workweek.
The coin manage to break above $240 in the evening hours on Wednesday and avoided falling into the bear flag trap. However, it is struggling to get past $245-$246 now and the overall decrease of volumes is not helping the situation.
Volumes dropped from $14 billion on Wednesday down to $8-$9 billion on Thursday and Friday morning.
This is the situation we are in currently on 1-hour and the uptrend is starting to look weak now. Let´ see how price reacts once we touch $240 again and I think this will happen today or tomorrow.
It of course depends on what direction the price will take in the next few hours up to the end of the session today. As you can see on the 4-h chart we are on course to close down the symmetrical triangle.
Cheers,
