Ethereum (ETHUSD) Weekly MACD Trying to Negatively Cross

Ethereum (ETHUSD)’s is near complete on its first long bodied red weekly candle since September, and appears vulnerable to a deeper consolidation the balance of November despite a tentative bounce off the psychologically key 4k whole figure level. Significantly, ETHUSD was rejected this past week at what somewhat resembles upchannel resistance (on the weekly chart), although the long lower shadow of the near complete current weekly candle suggests we are more likely to see a further slide similar to what occurred in September as opposed to in May…

Ethereum (ETHUSD) Nears Weekly Chart Triangle Resistance

Ethereum (ETHUSD) tacked on more gains last week, and is likely to consolidate this week before it can resume rallying back towards the September and 2021 high. Significantly, with ETHUSD back above the psychologically key 3500 whole figure level, odds are suddenly elevated for a higher October low versus the September low, and for a retest of triangle resistance (on the weekly chart) in October…