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Oct 01 - 01:55 PM

Ether - Is Down But Signals Suggest Longs May Prosper

By Christopher Romano  —  Oct 01 - 11:55 AM
  • Ether fell below the 50-DMA & hit a 12-session low, 2483.30 traded

  • Daily & monthly RSIs are falling which implies downward momentum

  • Yields US2YT=RR, stocks ESv1 dropped while USD/CNH rallied

  • Safe-haven assets sought as geopolitical tensions may be rising

  • Despite Ether's drop those positioned long may remain confident

  • Ether still above the 50-DMA & above short-term structural support

  • Consolidation phase of gains off September low is another bull signal

  • Rally above Sept. high, 2820/25 zone may see longs target the 3400 area

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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