ETHUSD Is showing an overall bearish outlook currently below the important 200 and 100 EMA and with a bearish breakdown confirmed heavily to the downside which can continue when the bears hold this pace. Also ETHUSD is building a huge triangle formation which is a descending triangle that can break heavily to the downside when confirmed and showing the next steps in bearish continuation.
The RSI is sending moderate signs at the moment with more possible breakdowns to the downside and a touch of the oversold region possible which confirms below the 20 value.
The MACD sending an important sign which is a bearish crossover to the downside which is a serious sign in the MACD that is signaling the trend change to overall bearishness.
TREND: Downside
FORMATION: Descending triangle
EXPECTATION: Breakout
TREND AFTER EXPECTATION: More downside
PREV: 0.17657
OPEN: 0.17652
VOLUME: 66.318M
DAY’S RANGE: 0.17211 — 0.17760
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