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Oct 29 - 11:55 AM

Ether - Signals Give Longs Some Comfort

By Christopher Romano  —  Oct 29 - 09:35 AM
  • Ether fell towards the rising 50-DMA, hit 2514.20 when buyers emerged

  • The rally extended above the 10-DMA, a 6-session high of 2636.90 traded

  • Daily RSI is rising and monthly RSI is now rising slightly

  • Ether's hold above up trend line off September's low reinforces bull signs

  • October 21 daily high at 2768.00 is now an impediment for longs

  • Break of that high brings key 2815/30 resistance zone into focus

  • Series of daily and monthly highs & lows sit within that zone

  • A break of that resistance may trigger stop loss buying

  • Ether longs may then turn their attention to the 3200/3250 zone

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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