Ethereum is still trading below EMAs and our smaller resistance zone.
While we had a really good bounce from the support zone here, we are now waiting for that smaller resistance zone near EMAs to be reached and then a steep downward movement to occur!
Swallow Team
Note
On a smaller timeframe, we are still waiting for the price to touch the upper resistance zone, ideally.
So we are looking for 2 possible moves here, where the first one would be a nice rejection from the upper resistance zone and the second one would be a possible slow downward movement to the EMA and a steep selloff from there!
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