No One Seems to Be Selling Ethereum, According to This Chart

Fibo Quantum

Ethereum had a mini-crash over the weekend along with other cryptos, but there’s been very little follow through to the downside.

The first thing jumping off the ETHUSD chart is the low just below $2,000 on Saturday night. Prices held that level and have been working higher since. That’s a sign that more buyers could be lurking below $2,000 than potential sellers.

The level was also important because it was near the February peak. Is old resistance turning into new support?

For more, please click here to view the related idea and chart analysis on TradingView.

Ethereum (ETHUSD), daily chart, with key patterns, courtesy of TradingView.

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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial.
Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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