Ethereum is struggling [Short-term Swing Position / 1-3 days]

• ETHUSDT has been climbing rapidly these past couple of weeks and it seems now it is following in BTCUSDT 's footsteps as they both decline together (Along with numerous other cryptocurrencies). After reaching the emotional price level of $400 per ETHUSDT and the all time high, the bounce was imminent for ETHUSDT. As it fell for the first portion it fell past the Previous short-term resistance/Short-term support line ($342UDT) indicating the line was getting weak, as it quickly rose back up it stayed in neutral state for a short period until June 14th. Soon after it broke the current parabolic trend line and fell straight through the Previous short-term resistance/Short-term support line once again, afterwards falling toward the Med-term resistance/Previous short-term support line ($285USDT). It seemed it was a good support for the first 4 hours, until it broke once again and continued downward. If my intuition is correct, it should retest the Previous short-term resistance/Short-term support line and fall past the Med-term resistance/Previous short-term support line and hold support at the Long-term resistance/Med-term support line ($241USDT), consolidate until it resumes the current trend below it and then there should be a long position opportunity. Like Vitalik said, "There's no "cure" for bubbles except to let them run their course and pop, unfortunately." (twitter.com/VitalikB...s/874467356734504962) This was expected after the influx of people rushing to buy cryptocurrency, this is no more than a healthy correction, but in this correction the opportunity presents itself.

• Bollinger Bands - Stock doesn't touch the second set of bands indicating it is not under-bought.
• OBV - Seems to be above at the moment but as it approaches resistance, it should fall after resistance is met.
Price is also rising, but the OBV is flat-lining indicating it is near a top
• Aroon - Aroon Up (Green) line below 30 indicates uptrend isn't very strong,
• MACD - MACD line (White) is over signal line (Light Green) currently, but has a very small gap between them indicating bullish momentum will subside, the histogram is indicating bullish momentum but the small bars indicate it as being weak.
• 200-day SMA - SMA (thick light green line that looks like staircase) is getting close to the current price but, which means it will likely trend downwards until it respects the SMA
• RSI - RSI doesn't reach 30 unless potential reversal, RSI was sitting at 30 earlier, indicating a reversal is coming.


• TF: 1-3days
• BUY: $330USDT
• SELL: $260USDT
• STOP/LOSS: $360/$345


Always remember, don't risk what you can't afford to lose/Know your limit, invest within it.

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Seems it might grab resistance at $355, STOP/LOSS updated to $365/$355.

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ETH is back on track

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If you were Stopped out, Short position looks like it is active again as it has broken support.

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Broke support, little longer than expected but should be hitting the price target.

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New chart up this week