There seems to be a wave of uncertainty over SEC verdict on Ethereum’s status as a security or not. The verdict is expected today and the uncertainty surrounding the outcome will surely have an effect on it’s price. Meanwhile let’s take a look at what the charts have to say.
ETH had another leg down and flush to hourly RSI at 20 which LTC and BTC -3.93% did not correlate with.
Solid bounce from the recent lows and we will need an hourly higher low and higher high for a short term trend reversal.
Look for the daily to form another higher low at some point today and for a bounce to begin.
I will be looking for a daily lower high as well as the momentum continues to shift back to the bears.
Loss of daily higher lows will mean our weekly lower high is set.
What do you think? Is Ethereum getting set for a small party?
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