Ethereum (ETH) Price Update: Could Massive Resistance Cause Another Pullback? by devytan

trading · @devytan · Feb 25 '18

$1.47

Ethereum (ETH) Price Update: Could Massive Resistance Cause Another Pullback?

Hi guys!

Here are my thoughts on Ethereum for today.

## ETH - 12 Hour Chart
Tools used: **Fib-Channel**, **Ichimoku Cloud**, **Trendlines** and **Stochastic RSI**
![5a92438cf0fcc.png](https://steemitimages.com/DQmYufaaUUbUboMwfpPuJaxtVKovp2AJp3dbW4evgr5VekC/5a92438cf0fcc.png)
I've pointed out some resistance on current ethereum chart (12 hour time frame). By looking at the stoch RSI it seems like ethereum might have another pullback (the trendlines on stoch RSI is crossing over right now).

It seems like bitcoin's sell off is not over yet so I would expect ethereum will follow wherever direction bitcoin is going. You can check [my price update on bitcoin](https://steemit.com/bitcoin/@devytan/bitcoin-btc-price-update-head-and-shoulder-pattern-almost-complete).

FYI: You can make money on crashing market too by shorting bitcoin. So, smart trader makes money will make money whatever the market condition is. 

I shorted bitcoin a couple days ago and so far its working great if I can see a confirmation on a reversal to the upside I will surely close my short and open a long position on bitcoin.

## Disclaimer
You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!

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