It appears that #Ethereum is on the verge of its next major bullish leg.
The 3 day 237 SMA has acted as a key structural resistance, and #ETHBTC has now completed its retracement into the 0.618 Fibonacci zone a level I consider the end of the corrective phase.
A clean breakout above the 237 SMA would likely open the path toward the 0.06 channel, where the next macro resistance cluster resides.
The 3 day 237 SMA has acted as a key structural resistance, and #ETHBTC has now completed its retracement into the 0.618 Fibonacci zone a level I consider the end of the corrective phase.
A clean breakout above the 237 SMA would likely open the path toward the 0.06 channel, where the next macro resistance cluster resides.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.