Ethereum — Ichimoku Shows Mixed Picture — Short-Term Trend Unclear.

Based on the Ichimoku system, Ethereum does not provide a clear path forward at the moment. Conversely, we can see signs of a bearish or bullish short-term outlook.

Let's start with the bullish (marked with black numbers).

1 - The Ichimoku cloud shows a clear uptrend (2) and bullish momentum (green cloud).

2 - The upper line of the cloud acts as support, and ETH tested this level successfully (1).

3 - The future cloud (3) is also green, predicting a bullish continuation.

4 - Although we have the Tenkan (red line) below the Kijun (red line), we can see a cross soon to the upside soon (4). This would be a strong, bullish sign (a cross above the cloud is one of the strongest signals).

On the other side, we have bearish signals:

- We recently had the Tenkan crossing below the Kijun (5), which is bearish. However, since the cross happened above the cloud, the impact is usually rather small.

- The future cloud is about to turn red (6). A flip would indicate a bearish outlook and more downside potential.

Summarized

Based on the Ichimoku, the best thing you can do is wait. We have two resistance lines (both boundaries of the cloud). Accordingly, we have to wait for ETH to either bounce or break below to make further assumptions about the short-term price movement.

$ETH #ETHETFS