#Ethereum next all time high is coming soon. Will we see ETH at $10,000 in 2021?
Ethereum closed down -181.560 at 1,119.550. Volume was 45% below average (neutral) and Bollinger Bands were 440% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
Ethereum is currently 149.7% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect moderate flows of volume into Ethereum (mildly bullish).
Our trend forecasting oscillators are currently bullish on Ethereum and have had this outlook for the last 26 periods.
Overall, the bias in prices is: Upwards.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body).
The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with Ethereum.
It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal.
The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
