REJECTED FROM 50 WMA (low)...
bears are in full control
look for a rejection of the
4 & 8 EMA for potential entry
on ANY timeframe
If bullish (riding the bounces) profit taking expecting rejection of 4 & 8 ema
Negated on a bullish break of the 50 WMA
AND 4 & 8 EMA acting as support.
ETH just got to a critical point.
The crossing of the long term 200-day WMA and the short term 50-day WMA can be very difficult to break. If it breaks with strong volume, it can be a very good sign of good things coming.
But I think the most probable outcome is that it gets rejected, at least this time. It is just the first try to break such resistance, so...