ETH Bulls Rattling the Bear Cages

Updated

Keeping this short and sweet. After showing some strength, ethereum has found itself wedged between the 365ema and the 200ema, which will act as temporary resistance and support. A breakout above the triangle could send ETH to the overhead resistance target, a break below the triangle will send us down for a retest of support. We are still in a bear market. Trade safely. This is for educational purposes only, not trading advice.

Happy Holidays!

Note

Ethereum wicks the top of the triangle perfectly. This re-establishes resistance. If Ethereum closes below 122.70 on the daily, it would indicate weakness amongst the bulls and could result in a momentum shift back to the downside (with support levels as downside targets. Checkout my btc chart as well. I appreciate the likes thank you all.

Note

Note

Ethereum breaks out nicely, let's see how the daily candle closes in a few hours.

Jimmy_Ocean

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