✴️ Ethereum Breaks Below EMA10, Buy Opportunity Developing...
Ethereum has broke below EMA10 and so the short-term potential of this altcoin pair now switches from bullish to bearish as long as prices remain below this level.
EMA10 is the green line on the chart sitting right now at $1559.
This retraces can be taken as an opportunity to accumulate (long-term) holders, buy-in (new entry, day traders), reload (active trades that secured profits).
How far down it can go it is too early to tell because we have only one red candle so far below EMA10, but the most important and relevant levels are MA200 at around $1,400 and $1300 for the 0.618 Fib. of the previous bullish breakout.
If the retrace is weak, only $1536 will be hit and maybe the 0.382 fib. at $1448.
If the retrace is medium sized it can go to the lower levels matching the 0.5 Fib. retracement together with EMA100 and EMA50.
Keep in mind that the correction can also be cut short.
I will share the support levels for Bitcoin as well.
This will be good for use to find a re-entry since our Nov. 2022 trade was closed after hitting all targets.
Namaste.
EMA10 is the green line on the chart sitting right now at $1559.
This retraces can be taken as an opportunity to accumulate (long-term) holders, buy-in (new entry, day traders), reload (active trades that secured profits).
How far down it can go it is too early to tell because we have only one red candle so far below EMA10, but the most important and relevant levels are MA200 at around $1,400 and $1300 for the 0.618 Fib. of the previous bullish breakout.
If the retrace is weak, only $1536 will be hit and maybe the 0.382 fib. at $1448.
If the retrace is medium sized it can go to the lower levels matching the 0.5 Fib. retracement together with EMA100 and EMA50.
Keep in mind that the correction can also be cut short.
I will share the support levels for Bitcoin as well.
This will be good for use to find a re-entry since our Nov. 2022 trade was closed after hitting all targets.
Namaste.
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🔝 Daily Cryptocurrency Technical Analysis
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