Ethereum (ETH) Price Report for September 21, 2016

Sep 21, 2016 --- (ARCHIVED) Altcoin Price Reports

Market Commentary:

All fundamental bias aside, Ether has been extremely well-behaved from a technical perspective recently.  Market structure and price action, in addition to an indicator synchronization, foretold a powerful rally a few weeks ago when we issued our ProTrade off of 180.  

Now we find ourselves in a pullback following a peak above our 235 exit target, and the question of the day is where the next setup is taking shape.  BTW, we were able to close that LONG at the 235 target for a 30.56% profit, a trade with a duration of 11 days (9/9/2016 to 9/20/2016).  At this point there are plenty of possibilities, however we still have a fairly good read on this market that can assist us over the coming days. 


We return to the daily chart as it remains the storyteller.  No surprise that price is selling off in the 23 area considering it is the medium term OTE short zone and is the top of the volume profile value area.  Also notice how RSI tagged overbought territory and is now correcting while MACD puts in a small but relevant bearish divergence, not to mention...

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