My Report For Ethereum

Before reading this, keep in mind that this isn't investment advice.

Ethereum 4 hour chart is currently oversold and in my opinion the bearish momentum has played out and bearish MACD will decrease in the short term.

We might see a bounce in the short term and a long position might be profitable in the short term (1 to 5 days).

I have a bearish outlook because of the daily chart. RSI was in overbought territories and we saw a bearish cross in the daily MACD in very positive values.

In my opinion, the secondary bullish trend within the primary bearish trend is over. Bears will take control and draw crypto prices down furthermore.

This bear market will continue until FED stops increasing rates.

What do you think?