Ethereum broke through the trendline that had formed since 7/26 and broke back into the Average price range on the 2hr time frame. We are looking for the trend to move upwards again as the 2hr bounce off 50 RSI on the white line (the most volatile), and if the white line moves over the orange and blue RSI lines again, we are back in business. As it moves closer to the blue and orange line, a further downtrend is expected if it shows resistance.
Again we are in the average price range; there is no reason to buy or sell in the short term here just enjoy the view. If looking for longer-term entry positions breaking below 3k can be a good purchase at this time. Again blue-chip ALTs have been crushing, and this is an excellent time to move some ETH profits that way. ALCX, MATIC, SUSHI, UNI, SOL, LINK, REN are all looking juicy against ETH. The rest of the week, I am going to chart these for potential entries.
