The weekly chart for our beloved Ethereum (ETHUSD), the #1 altcoin, is really looking good... Meaning, there is lots of potential/room still left available for growth.
Hit LIKE to read the chart!
The first thing to notice here is that the EMA10 green line has never been 'breached' since April 2020.
Trading above EMA10 = BULLISH. Here we have the proof.
Now, this week we have a green candle that is challenging resistance.
We know that the longer a resistance level is challenged the weaker it becomes.
When prices are high and set to drop they tend to do so suddenly and strong, yet we are still above EMA10 which is super bullish... That's all my friends.
There are more signals coming from this chart but basically, this is it, simple is best.
If ETHUSD can break and close above $2550 on the weekly timeframe, we can expect higher prices to $3400+ and even $4000+.
Conditions for change A correction can happen/take place when prices move and close below EMA10, now sitting at $1953.
Thanks a lot for reading.
Feel free to leave a comment if you have any questions and hit LIKE to share in support.