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Aug 08 - 11:55 AM

Ether - Bulls Are Barely Inspired By Claims, Upbeat Risk

By Christopher Romano  —  Aug 08 - 10:10 AM
  • Ether traded up 3.81% in NY's morning after 2524.20 was struck earlier

  • The crypto pierced the 23.6% Fib of 3562.20-2181.00 the fell below it

  • US yield US2YT=RR, US$ gains after weekly claims helped limit gains

  • Equity ESv1, gold XAU= gains help pair maintain gains however

  • Daily RSI is oversold, may unwind that condition; could be bullish

  • Hold below the Fibo, consolidation of recent drop bearish however

  • Falling monthly RSI, recent break of 2800 adds to bearish sentiment

  • Ether longs likely need above 10-DMA, 2770/2830 to gain greater control

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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