Oversold Ethereum To Bounce Back To EMA10 or Higher ($2,222) Long

Description

⋅ Jun 25, 2022 10:54 PM

We are looking at Ethereum (ETHUSD) on the weekly timeframe and this pair is oversold.
The RSI hit its lowest level in a long while.

While we looked at many different signals recently that support a relief rally, we will keep it simple for this one.

As ETHUSD tested MA200 as support, it needs to bounce back now and test EMA10 in the least at $1864 or higher before any new lows.

We will see Ethereum move to ~$1850, ~$2,222 and beyond.

Namaste.

Comments

peterbhc

⋅ Jun 25, 2022 11:36 PM

That is a lot of red weekly candles! But I prefer this type of bear market... quick and to the point, straight down, no bounces, no long agony and games.