top of page

Ethereum (ETHUSD) Nears Weekly Chart Triangle Resistance

Ethereum (ETHUSD) tacked on more gains last week, and is likely to consolidate this week before it can resume rallying back towards the September and 2021 high. Significantly, with ETHUSD back above the psychologically key 3500 whole figure level, odds are suddenly elevated for a higher October low versus the September low, and for a retest of triangle resistance (on the weekly chart) in October. ETHUSD's correlation to BTCUSD (on a weekly chart) is at 0.94, near the upper end of its 5 year range. I am long as of earlier in September in the 3340-3600 range, and am expecting a 3300-3900 range for the balance of October. The weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.

bottom of page