ETH Weekly Death Cross ? ETH/USD #ethusd #eth #ethereum
Updated
Well...I know the market can be hard to read sometimes but the ETH weekly chart above seems like it will have a Death Cross soon on our weekly chart . That's the main thing I see here . You see that light blue 50 MA ? And it looks like it will cross down through the dark blue 200 MA perhaps sometime this month ,in April . That's called a Death Cross of the 50/200 MAs or moving averages .It's bearish and price could definitely go down though it remains to be seen if the cross actually occurs . Bitcoin had a similar Death Cross on it's weekly chart in early February - and though it did dump a bit it also had a pump above weekly 200 MA recently . If we are going to avoid this cross ETH would really need to pump from here though . Not sure it will. Let's see how it plays out .
Note
ETH looking good ! We may be able to avoid this weekly 50/200 MA death cross by pumping out of it . So far ,so good. Market looks Bullish at least for the timebeing .I really hope ETH continues on it's way up !
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