ETHUSD: Bullish HARAMI Pattern Above $1687
Ethereum lost its bearish momentum and, after hitting a low of $1687 in Mar 27, the prices corrected upwards to $1829 today in Asian trading.
This week, we have witnessed a bullish opening to the markets.
The Ethereum price is nearing a record high of 1 Month.
The bullish Harami pattern is clearly visible above the $1687 level. This bullish pattern signifies that the market has entered a bullish phase.
ETH trading at just above the pivot level of 1798 is now and moving into a slightly bullish channel. The price of ETHUSD currently tests its Fibonacci resistance level 1806 and classic resistance level 1803. After which, the path to 1850 will be cleared.
Within a 2-hour period, both bullish Harami or bullish Harami cross patterns can be seen.
The relative strength index is 53.40 which indicates a strong demand and continuation of the buying pressure on the markets.
Both STOCHRSI and STOCH are giving a neutral signal. This indicates that prices could enter a consolidation phase within the short-term.
Some…
