CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

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62. TECHNICAL ANALYSIS: ETHUSD (Published: 18th Oct, 2017)

Analysis

  • ETH/USD has been moving in a downward channel but it might be running out of steam
  • Bullish divergence on Stochastic indicator: price moved lower to test $310 but Stock actually rose up
  • RSI also showed oversold signal twice
  • These indicated that $310 will be a strong support level for ETH/USD

Suggestion

  • The market will probably test $310 again. Look for more bullish signals for a long trade
  • If $310 is penetrated, it will easily fall to $300 or even lower

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