Ethereum is currently trading within a well-defined parallel channel on the 4H chart. Price is approaching the lower boundary, which has acted as reliable support in recent swings.
🔍 Indicators:
RSI (4H) is in oversold territory, signaling potential upward momentum.
Stochastic RSI also confirms an oversold condition, aligning with the RSI.
📈 Bias: Bullish
I’m expecting a bounce from the lower channel support toward the upper boundary, following the established channel trend.
Invalidation: A clear breakdown below the channel with strong volume.
Target: Top of the channel.
🔔 Not financial advice. Always do your own research.
#ETH #Ethereum #Crypto #TradingView #TechnicalAnalysis #RSI #Stochastic #PriceAction #ChannelTrading
🔍 Indicators:
RSI (4H) is in oversold territory, signaling potential upward momentum.
Stochastic RSI also confirms an oversold condition, aligning with the RSI.
📈 Bias: Bullish
I’m expecting a bounce from the lower channel support toward the upper boundary, following the established channel trend.
Invalidation: A clear breakdown below the channel with strong volume.
Target: Top of the channel.
🔔 Not financial advice. Always do your own research.
#ETH #Ethereum #Crypto #TradingView #TechnicalAnalysis #RSI #Stochastic #PriceAction #ChannelTrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.