@mysticveil
Ethereum (#ETH) has been on a steady decline since triggering an overbought and bearish divergence signal on August 22, with a maximum drop of 12.85%.
Now, it’s flashing a fresh oversold signal, completing a full cycle from overbought to oversold.
That said, while the signal is there, the high risk-reward long entry is still a bit off. Ideally, I’d like to see a wick down to the EMA200 zone, which also lines up with previous lows.
Even so, I’m keeping my targets conservative: even if there’s a bounce, I’m only looking at it as a rebound—not the start of a new uptrend.
0 reply
0 recast
0 reaction