Ethereum (ETH) Bounces Before Hitting MA/EMA200
Updated
We have Ethereum (ETHBTC) bouncing and moving above EMA10 and EMA100 after a short retrace.
This bounce is interesting because ETHBTC started to reverse before hitting the EMA200/MA200 lines... We are likely to visit the last high on this bounce.
Another point in favor of the bulls is the 0.5 Fib. retracement support where prices bounced.
This is a strong level that can work as support on bullish cycles.
Conditions for change
If EMA50, the next resistance, becomes too strong and ETHBTC can't break it, we will see lower prices right away.
The different potential scenarios are clearly depicted in the above chart.
Namaste.
This bounce is interesting because ETHBTC started to reverse before hitting the EMA200/MA200 lines... We are likely to visit the last high on this bounce.
Another point in favor of the bulls is the 0.5 Fib. retracement support where prices bounced.
This is a strong level that can work as support on bullish cycles.
Conditions for change
If EMA50, the next resistance, becomes too strong and ETHBTC can't break it, we will see lower prices right away.
The different potential scenarios are clearly depicted in the above chart.
Namaste.
Note
TARGET:1) 0.03150 |Hit 25-July (+21%)
2) 0.03600 |Hit 13-Aug. (+38%)
Note
TARGET:1) 0.03150 |Hit 25-July (+21%)
2) 0.03600 |Hit 13-Aug. (+38%)
3) 0.04150 |Hit 1-Sept. (+59%)
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