Dear Traders, a few days passed since the last trading overview of ETH-USD pair.
As it seems ETH breaks out of the bearish channel, but it is important that trading volumes are very low, MACD is almost completely flat and doji candles are forming on the 4 hour chart.
If we look at BTC-USD pair, it had a nice bullish run, but still under the resistance line. BTC also brake out of the downtrend line, but the breakout is so tiny till the time of the post, I don’t consider significance to it.
The reason I mentioned BTC in this ETH-USD pair analysis is because the BTC is still the captain regarding cryptocurrency technical analysis trends, almost all cryptos are pursuing it’s movement.
My suggestion is to wait for trading volume, that will show the direction.
Source:
http://cryptoraptors.com/index.php/2018/02/28/eth-usd-trading-analysis/
