ETCUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME
Publish Date : 2019/09/18 - 05:57

ETCUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME


Ethereum has been falling near its descending trendline and now a long-term correction is due.

It seems that the prices are about to retest the previous support now turn into a resistence.besides,it is possible that the correction extends to 38.2 fibbonacci level as shown in the figure above.

Stochastic indicator is already in overbought area which shows that buyers are getting exhausted.furthermore,the gap between two SMAs is narrowing which suggest bullish momentum is decreasing.

source:babypips

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