Ethereum 4H Consolidates Above EMA10 (Resistance & Support)

17 Tem 2022

While Bitcoin's last high was set on the 7th of July, for Ethereum it happened yesterday...

The Ethereum chart is even more telling about the consolidation that I mention in the Bitcoin article (see 'Related Ideas' at the bottom).

After a new high, it is normal to see retraces/corrections or a period of consolidation...
Some people call it "trades remorse", good thing we changed the name to correction or retrace.

The fact that ETHUSD stays above a full day later is a bullish signal.

Prices can still move lower before resuming higher but the strength signal remains in place.

The RSI is really strong...

So, what's the conclusion Alan?

Patience my friend.

That is the message that I am trying to get across.

Enjoy your Sunday.

Thanks a lot for the continued support.

Namaste.