Ethereum Changes Course, Bears Take The Wheel, Lower?

8 במרץ 2020

After our last chart/update, ETHUSD had a strong drop/reversal, the bears now have the upper hand.

For Ethereum (ETHUSD) prices are now moving below EMA50 ($219). This signal is only confirmed once the daily candle closes. If prices close above EMA50 this signal is invalid.

If ETHUSD closes below EMA50 or $219, then we are likely to test the 0.786 Fib. retracement support at $183 (1).
If prices can stay above $200 there is still a chance for reversal (2)...

Always remember to have a plan/strategy before you trade.
Thanks a lot for reading.

Namaste.