Ethereum’s Weekly Divergence

Open Interest – Long: 1.90 Days
Open Interest – Short: 0.42 Days
RSI: Hidden Bearish (1W)
OBV: Flat
VOL: Flat

Price Action: ETH has been constricted by the 28D moving average for most of this week; however there is still about 10 more day of price action before the $170 peak diminishes from the calculation. The weekly chart is where the focus should be though; with the RSI rising to a third peak despite lower highs on the price action. With the 26W MA now at a lower point to the previous price peak; this presents a nice short opportunity overall. Add to this that margin long positions 4x the short positions and without fresh capital the bulls appear over exposed.

Key Resistance: 140 (28D MA), 145, 152, 155 (26w MA)
Key Support: 131 (13w MA), 130, 120

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