{"id":424707,"date":"2020-05-21T16:00:00","date_gmt":"2020-05-21T16:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=424707"},"modified":"2020-05-21T14:30:33","modified_gmt":"2020-05-21T14:30:33","slug":"doji-forming-on-ethereum-monthly-hints-at-investor-indecision","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/doji-forming-on-ethereum-monthly-hints-at-investor-indecision\/","title":{"rendered":"Doji Forming On Ethereum Monthly Hints At Investor Indecision"},"content":{"rendered":"
Ethereum<\/a>, like Bitcoin and other assets following the Black Thursday collapse, have made a strong recovery and regenerated most of the gains lost during the epic selloff.<\/p>\n And while things have been looking positive for Ethereum, a doji forming on monthly timeframes shows indecision among investors. But this isn’t always a bad thing and has led to further upside in the past.<\/p>\n Ethereum<\/a> kicked off 2020 with a powerful rally. After nine consecutive weeks<\/a> of bullish price action and green candle closes, the number two cryptocurrency by market cap had increase by over 100%.<\/p>\n But then Black Thursday happened and high-risk assets like Bitcoin, Ethereum, and many other crypto assets were dumped alongside stocks, precious metals, and everything else that could be sold.<\/p>\n Related Reading | Over 359 Companies Are Building The Future On Ethereum\u00a0<\/a><\/strong><\/em><\/p>\n The mad dash for liquidity resulted in a catastrophic collapse across all markets.<\/p>\n Since then, Ethereum<\/a> has been struggling to reclaim highs traded at just before the fall. Over the last month, the smart-contract focused crypto asset has made a steady climb, but has seen some pullback in recent days.<\/p>\n Investors are showing indecision, which can be seen in the formation of a doji candlestick on the May monthly candle on Ethereum price charts.<\/p>\n <\/p>\n Doji candlesticks<\/a> show that indecision is present in the market, and buyers and sellers are demonstrating a similar amount of strength.<\/p>\n Dojis occur when price action closes at the same value it started at around open. Most often, there are wicks or shadows to the upside and downsize, showing a push from both buyers and sellers that ultimately went nowhere.<\/p>\n <\/p>\n These candles are rare on the highest timeframes. Two previous monthly candles have closed with a similar shaped green doji.<\/p>\n One was just before the final push that brought Ethereum to its all-time high in late 2017. The most recent one, was in late 2019, just before a major, two month drop.<\/p>\n Related Reading | Double Dragon: Is Ethereum Ready For Violent Reversal?<\/a><\/strong><\/em><\/p>\nEthereum Investors Showing Indecision, Will The Number Two Crypto Rise or Fall?<\/h2>\n
Doji Candlesticks Explained And How It May Impact ETH Prices<\/h2>\n