ETH/USD 4H Chart: Reveals new junior channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellSellBuy
Aggregate

The Ethereum cryptocurrency has revealed a new junior descending channel pattern against the US Dollar. The pair is currently trading near the upper boundary of the channel pattern at 138.0.

Given that the ETH/USD pair is near the upper band of the junior descending channel, a breakout could be expected within this session.

Although, a resistance cluster formed by the combination of the 50– and 100-hour SMAs at 138.0 could hinder the breakout.

Moreover, technical indicators flash sell signals on the 4(H) time frame chart.

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