#Ethereum = Daily Analysis = 17.06.2021 #ETH $ETH #investing #charts #trading #stockmarket

$ETH continues to be under bearish pressure on monthly/weekly/daily time frames. The candles signal a continued decline, however, the shape is not clear yet. Let’s explore hte hypothesis from the different angles.

Monthly
RSI accelerates down and MACD histogram moved a notch below the May’s bar. The PSAR could flip bearish if price moves down another 30-40 points. These are rather alarming signs in the second half of the month.
Odds: Bearish

Weekly
The weekly candle looks like used all upside allowances for the week and has a good chance to close as a red candle. If it closes below 20 EMA line, ~$2206, it would reinforce the bearish odds that are already strong and supported by indicators. Let’s see how ETH closes on Saturday.
Odds: Bearish

Daily
After a Tower Top the price moved below 8 EMA and below 100 MA lines and stayed there the whole day today.
Odds: Bearish

The shape of the wave is not clear. It could be an extended triangle or could be the first move down shaped as a leading diagonal. I hope that the next two days will provide enough data for calculating the targets.

ETH remains under significant bearish pressure on all frames. So far, no candle indicated a possible bullish reversal.

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Previous Weekly:

Previous Monthly:

The call on May 16:

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