Ethereum (ETH): 200EMA Holding Buyers Strongly / Possible Short?

4 gün önce

We are back with Ethereum, where we are seeing the great work from 100&200EMA.

Despite us trading currently in some kind of sideways tunnel, we are seeing that buyers are struggling with breaking out of this path, where EMAs are pressuring the price down, which could lead to a possible breakdown of the local support zone.

We are looking here to see a break of that support rather than a break of EMAs, and once we get it, we will wait out for a confirmation re-test (good zone to open short).

Swallow Team

3 gün önce

Not

Price has fallen nicely here and still keeps on falling further towards our second CME gap. As we recently broke the bullish trend (while going for the first CME gap), we are now seeing some kind of re-test attempts.

We are looking for further movement from here to lower zones, so eyes on the second CME!

evvelsi gün

Not

Ethereum had also a nice push thanks to US election results.

Despite that we are not anything near ATH so this push was half filled but heres what's interesting.

Each time we have broken zone of EMAs we did not make a re-test and went straight for upper resistance zone (from where we got rejected).

Currently we are also looking for some further movement to upper zones towards that resistance zone from where we want to see a possible movement to lower zones back and finally fill a second CME gap just like we did fill that first one recently!

dün

Not

While we waited for some further movement to upper zones, Ethereum has broken here from that zone of DCA, which might signal to a potential fakeout movement.

We have broken all major zones without a single re-test, which means this is not a healthy push we had so far but more of an optimistic movement.

Now here are 2 ways we can go:
1) We form a fakeout and go back below the zone of DCA (which again would result further movement towards the trend line).

2) We see a smaller re-test of DCA zone and then price will break higher high zones on smaller timeframes (which would push price higher to upper zones!)!!

8 saat önce

Not

Elections have had their own impact on Ethereum, where we are yet far from the ATH zone, but we are seeing some improvement in the price action.

With the recent high volume break of resistance (which has been re-tested as well), we are now switching here to a different strategy where we are looking for slight upward movement to happen on the ETH coin.

We are expecting the price to touch the CME gap after what we want to see some smaller correction (which should not go past support zone) in order to correct the overbought RSI.

This would give us a good possible buy opportunity on the coin, so keep our attentions on both support and resistance zones for now!