FX.co ★ #Ethereum chart analysis

Hi everyone! Ethereum is finishing the week at 1570. The bears failed to update this year’s lows when they attacked 1500, and now a double bottom has formed there – a reversal signal. So at the very least, next week we should see a bounce to relieve the crazy oversold conditions. Looking at the daily Bollinger Bands, Ethereum can count on growth up to 1680. Given the short trading week in the stock market, I forecast that the altcoin will be in a narrow flat range of 1680–1580. Can we count on a rally if US labor market data signal a softening of the Fed’s policy? It all depends on the flow of institutional investments. The lack of inflows into crypto is the biggest problem today.