ETH and all other Crypto-Currencies are on their own. Anyone who believes that one has to follow the leader, does not know how markets work. There will be times where they may look to follow each others moves, but on a grand scheme they have their own path. ETH looks to be carving out a support zone and it seems this is not over. Longer-term sentiments still feel strongly bullish, its the short-term signals that have been the weaker of the two and so when they are not in SYNC, price will languish in limbo. I would be looking at the $280 low for ETH buyers to enter for a long position.
Foot Note:
-RIGHT CLICK ON IMAGE AND OPEN IN ANOTHER TAB TO SEE FULL RESOLUTION-
When analyzing this chart, you will notice the Slow Stochastics indicator. I find this indicator to be the complete indicator compared to the vast majority out there. Lets explore the terms I will be using. Also use the indicator based on its respective time-frame:
Time-Frame:
1 hour - Lasts 1 hour - Few days
Daily - Last Days - Week(s)
Weekly - Last Week(s) to Month(s)
Term used:
OB - OverBought (above 80)
OS - OverSold (Below 20)
Bullish - Above 50
Bearish - Below 50
Trend - Cross up in both channel line or Cross down in both channel line.
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