Ether's (ETH) immediate prospects look positive as a technical analysis indicator, known to mark turning points in the market, is flashing a bullish signal.
The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. All right, it's time to take a look at the chart of the day. Ether's immediate prospects look positive as a technical analysis indicator known to mark turning points in the market is flashing a bullish signal. That's according to fair lead strategies founder Katie Stockton who said Monday that the Demark signal on Ether's price chart could lead to e defending the weekly Ihi Moku cloud support at 15 80. Even as other studies favor a deeper price slide. Demark indicators help market participants gauge potential inflection points in market trends and are quite popular among traders. This chart shows the so called Tom Demark TD sequential count has generated a buy signal. Meanwhile, the MA CD histogram an indicator used to gauge trend strength is using a bearish reversal with an impending drop below zero. However, the M AC D's bearish signal is likely to be overshadowed by the bullish TD sequential as the latter correctly marked short term trend reversals early this year. That's it for today's chart of the day. I'm Jen Senai. We'll see you next time to unpack more of the data behind top news stories.