Ethereum 4H Chart Update (Mixed Signals & More)

22 Jan 2021

We can see Ethereum (ETHUSD) trading within an ascending channel.

We can notice a higher low compared to 11-Jan. but also some mixed signals.

The MACD is below zero which is bearish.
The RSI below 50 which isn't really bad but not on the bullish side.

The trend is bullish but the charts are always changing, every day.

We have a bounce now right below EMA100 and resistance being faced at EMA50.

(1 = GREEN) There is the possibility of a short-term higher low before higher prices (green arrow).

(2 = RED) On the other hand, the bears can gain momentum and push lower if they manage to take out the next "support", purple area on the chart. This would send prices lower and test EMA300 at ~$925 (red arrow).

We have bearish divergence on both the MACD and RSI so we will have to wait and see what happens next.

We have some bearish signals developing but a bullish trend.

Namaste.